Which of the following would impose the greatest costs to society?
A. High levels of expected inflation
B. Low levels of expected inflation
C. Variable rates of inflation
D. Stable rates of inflation
Answer: C
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The long-run average total cost curve of a natural monopolist
A. Is U-shaped. B. Is below the long-run marginal cost curve in the relevant range of production. C. Reflects diseconomies of scale. D. Is downward-sloping in the relevant range of production.
________ saw the home as a workplace which could be made more efficient. Her husband Frank (an efficiency expert in factories) wrote a book about their marriage and twelve children, Cheaper by the Dozen, which has been made into movies
a. Eleanor Shively b. Evelyn Draper c. Ellen R. Richards d. Lillian Gilbreth
Consider a small hair styling salon. List some examples of implicit costs of this business
The market demand curve is simply the vertical sum of the individual demand curves for all consumers in the market
Indicate whether the statement is true or false