Deadweight loss results from too few or too many resources used in a given market
a. True
b. False
Indicate whether the statement is true or false
True
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If the cross-price elasticity of demand between two goods is -1.2, then the two goods are:
A. substitutes. B. complements. C. inferior. D. elastically demanded.
In 2012, which of the following countries had the highest share of investment spending in GDP?
A) China B) France C) the United States D) Germany
Under conditions of first-degree price discrimination
A) production will equal that which would exist under perfect competition. B) production will exceed that which would prevail under perfect competition. C) prices will be lower than under perfect competition. D) production will always be lower than under perfect competition.
Is it ever rational for unions to strike if they know that their members will never be able to make up for the wages they lose during the strike? Explain