All individuals, even Bill Gates, must select among alternative goods because of
A) pollution.
B) global warming.
C) scarcity.
D) poverty.
C
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Which of the following conditions is TRUE for a profit-maximizing firm in a perfectly competitive industry?
A) MR = TC B) ATC = AFC C) MR = MC D) MC = AVC
If a first-past-the-post vote was taken by the school board on which project gets funded and the voters' preferences are shown in the table, which project is most likely to win?
A. Computer lab
B. Library
C. Gym
D. It will result in a three-way tie.
Which of the four countries has an opt-out and chose not the adopt euro yet:
a. Germany b. Denmark c. France d. Austria
If Suzette responds to an increase in the interest rate by decreasing her saving, then, for Suzette,
a. the increase in the interest rate creates an income effect that is greater than the substitution effect. b. the increase in the interest rate creates a substitution effect that is greater than the income effect. c. consumption when young and consumption when old are perfect substitutes. d. consumption when young and consumption when old are perfect complements.