An increase in the price of cotton will increase the equilibrium price and decrease the equilibrium quantity in the market for cotton t-shirts
a. True
b. False
Indicate whether the statement is true or false
True
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Relative to simple pricing, price discrimination leads to
a. Consumer surplus being converted to producer surplus b. Increased profits c. A simplified pricing schedule d. Both a and b
Which of the following are policies that can affect cyclical unemployment?
a. adjust interest rates b. provide welfare assistance c. regulate hiring practices d. provide unemployment compensation
Whenever the benefits of group effort fall on every member of a large dispersed group, regardless of individual contributions, there can be a
A. negative externality. B. free-rider problem. C. spillover effect. D. sudden-damage effect.
The observation that after some point, successive equal size increases in a variable factor of production, such as labor, added to fixed factors of production, will result in smaller increases in output is the
A) law of diminishing marginal product. B) streamlining production function. C) consumer equilibrium. D) theory of increasing marginal utility.