A good is most likely to be inefficiently priced if
a. some of the resources used in its production are scarce.
b. the good is private property.
c. some of the resources used in its production are free.
d. a corporation produces the good.
c
You might also like to view...
Suppose that the yen-dollar foreign exchange rate changes from 130 yen per dollar to 140 yen per dollar. Then the yen has
A) depreciated against the dollar, and the dollar has appreciated against the yen. B) depreciated against the dollar, and the dollar has depreciated against the yen. C) appreciated against the dollar, and the dollar has appreciated against the yen. D) appreciated against the dollar, and the dollar has depreciated against the yen.
The cross elasticity of demand between Coca-Cola and Pepsi-Cola is ________ so that Coke and Pepsi are ________
A) positive; complements B) positive; substitutes C) negative; normal goods D) negative; substitutes
If productivity and wages both rise by 3 percent, then the aggregate supply curve shifts up.
Answer the following statement true (T) or false (F)
When individual supply curves shift, ceteris paribus, the market supply curve shifts.
Answer the following statement true (T) or false (F)