There are debt relief programs currently available for highly indebted poor countries
Indicate whether the statement is true or false
TRUE
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The marginal cost curves slope upward because of the principle of
A) decreasing marginal benefits. B) increasing marginal cost. C) increasing marginal benefits. D) decreasing marginal cost. E) decreasing total benefit.
In order to reduce the possibility of adverse selection, banks should raise the interest rates charged on loans
a. True b. False Indicate whether the statement is true or false
If, at its profit-maximizing output level, the price of the good is less than average variable cost, the firm should shut down immediately
Indicate whether the statement is true or false
Figure 11-1
The Red Cross is virtually the only operator of blood banks in the United States. In Figure 11-1 are the demand and cost curves facing the Red Cross blood bank. If the Red Cross were to set price and quantity at the level that it would obtain in the long run in a competitive industry, how much blood would it sell?
a.
OA
b.
OB
c.
OD
d.
OC