If MRS's are equal across all consumers, then the efficient product mix has been achieved
Indicate whether the statement is true or false
False. Consumption efficiency has been achieved for the given product mix, but the given product mix is efficient only if MRT equals the MRS for all pairs of goods.
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A 2005 quarter is called token money because: a. it is legal tender
b. its metal value exceeds its face value. c. there is less than a quarter's worth of metal in it. d. it can be used in the subway. e. it is generally not accepted in exchange.
Community Advisory Council (CAC).
What will be an ideal response?
Evidence of differences in the average wages of black workers compared to white workers
a. does not alone provide conclusive evidence of discrimination. b. clearly indicates differences in productivity between races. c. is seldom used to provide evidence of discriminatory bias. d. clearly indicates discrimination on the basis of race.
When a monopolist charges a low price to drive out competition, then charges a high price, the monopolist is engaging in:
A. a trust agreement. B. a merger. C. duopoly pricing. D. predatory pricing.