An increase in revenue causes economic profit to rise
Indicate whether the statement is true or false
False
Economics
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Public goods arise because of externalities.
Answer the following statement true (T) or false (F)
Economics
As one moves down a straight-line demand curve, the elasticity increases.
Answer the following statement true (T) or false (F)
Economics
A progressive tax is a tax that taxes income so that the average tax rate increases with income
Indicate whether the statement is true or false
Economics
When buyers will purchase exactly as much as sellers are willing to sell, what is the condition that has been reached?
a) supply and demand b) excess demand c) equilibrium d) price floor
Economics