Some people make purchases without complete information because:
A. they are irrational.
B. the opportunity cost of getting more information outweighs the benefit of having more information.
C. the benefit of having more information outweighs the opportunity cost of acquiring it.
D. No one makes purchases without complete information.
B. the opportunity cost of getting more information outweighs the benefit of having more information.
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Cost curves shift if i. technology changes. ii. the prices of factors of production change. iii. productivity changes
A) only i B) i and iii C) only ii D) i and ii E) i, ii, and iii
The textbook refers to the following quotation from a Federal Reserve publication: "Trade is a win-win situation for all countries that participate
" But many firms and workers oppose free-trade policies and protests against globalization have become a regular occurrence at meetings of the World Trade Organization. If trade is a "win-win" situation, why is there strong opposition to free trade and globalization?
If Sam's manufacturing plant is in a perfectly competitive labor market where the current wage is $14 per hour, his firm can expect to drive up wages if it expands its operations by 50%
Indicate whether the statement is true or false