Competitive markets tend to produce an inefficiently large amount of beneficial externalities.
Answer the following statement true (T) or false (F)
True
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We might predict that Japan has a comparative advantage compared to Russia in the production of hi-tech electronics because Japan has:
A. a climate is more suitable for electronics. B. more land available to build manufacturing plants on. C. more advanced electronics technology. D. more unskilled labor available for production.
Explain the reasoning behind the shutdown rules. When is it appropriate to operate with a loss?
An increase in the price of dairy products produced domestically will be reflected in
a. both the GDP deflator and the consumer price index. b. neither the GDP deflator nor the consumer price index. c. the GDP deflator but not in the consumer price index. d. the consumer price index but not in the GDP deflator.
Optimal market outcomes are the same as perfect market outcomes.
Answer the following statement true (T) or false (F)