If a line passes through the points (20,5) and (10,10), then the slope of the line is 1/2
a. True
b. False
Indicate whether the statement is true or false
False
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A monopoly that sells every unit of its output at the same price is a ________
A) unit-price monopoly B) legal monopoly C) natural monopoly D) single-price monopoly
For an investment in a hybrid auto like the Toyota Prius, the car owner typically pays a higher initial price for the car but enjoys lower fuel costs for the life of the vehicle
The authors note that consumers tend to use discount rates that are too high when computing the net present value of these investment decisions. If this is true, consumers would tend to place too ________ emphasis on the initial purchase price and too ________ emphasis on the future fuel savings when computing the net present value of the investment. A) much, much B) little, much C) much, little D) little, little
Legislation designed to regulate natural monopolies would be based on which theory of regulation?
A. Social B. Legal cartel C. Public interest D. Price fixing
Society can increase its output and income by increasing basically one or both of two factors:
A. Its spending and investment B. Its private and public sectors of the economy C. Its resources and the productivity of the resources D. Its markets and prices