Social demand equals market demand minus externalities when there are external benefits.
Answer the following statement true (T) or false (F)
False
Social demand equals market demand minus externalities when there are external costs.
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In November 2008, automobile executives from Ford, GM and Chrysler testified to Congress that their firms needed a $25 billion bailout to prevent bankruptcies. The executives stated that part of the cash would be used to re-design production lines
The $25 billion is ________ and the re-designed production lines are ________. A) financial capital; physical capital B) gross investment; physical capital C) physical capital; financial capital D) net investment; gross investment
A difference between a quota and a tariff is that
A) a tariff generates a higher price than does a quota. B) a tariff generates a greater reduction in exports than does a quota. C) a quota increases profits of domestic producers more than does a tariff. D) the government collects revenue from a tariff but does not collect revenue from a quota.
Briefly contrast the situation where losses will be the smallest for a perfectly competitive firm based on total revenues with another situation where losses for a perfectly competitive firm will be smallest based on marginal revenue
In 2017 about 12% of personal income in the United States came from
A. wage supplements. B. transfer payments. C. property income. D. wages and salaries.