In the short run, the ATC curve and the AFC curve for information products are
A) downward sloping.
B) horizontal.
C) upward sloping.
D) vertical.
Answer: A
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Protection of rivers in Idaho is a public good. If the marginal social cost of protecting rivers in Idaho exceeds the marginal social benefit of river protection, is there more than, less than,
or the efficient amount of river protection taking place?
Explain the term "economics."
What will be an ideal response?
An increase in the purchasing power of money need not lead to an increase in the purchasing power of income because the falling price level would likely mean falling wages and salaries
Indicate whether the statement is true or false
Even though reliable data is lacking, the Beard-Hacker Thesis maintains that the Civil War (1861–1865)
(a) was more costly to the South than to the North. (b) ended Southern prosperity through the abolition of slavery. (c) increased immigration to the U.S. (d) sped up the industrialization of the U.S.