Use the following graph for a competitive market to answer the question below.
A price floor of $25 per unit will result in a
A. surplus of 250 units.
B. shortage of 250 units.
C. shortage of 200 units.
D. surplus of 200 units.
Answer: D
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The total market value of capital assets in the United States is about $30 trillion dollars.
Answer the following statement true (T) or false (F)
Economists believe a volunteer military is likely to
A) cost more than a conscripted military. B) cost taxpayers more than a conscripted military would. C) impose higher costs on military personnel than does a conscripted military. D) increase the percentage of incompetent people in the armed forces.
Once trade begins, a country will tend to specialize completely in the production of its export good
Indicate whether the statement is true or false
A firm engaging in efficient production, using current technology, ________ produce its current level of production with ________ inputs
A) could; fewer B) cannot; fewer C) cannot, more D) cannot; different