In a two-person economy, Adam and Brandon both produce corn and cars. Adam's marginal cost of producing a car is 50 tons of corn, while Brandon's marginal cost is 70 tons of corn. In this economy, Brandon should produce cars and Adam should produce corn
Indicate whether the statement is true or false
F
Economics
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Any allocation resulting from a mutually beneficial trade is efficient.
Answer the following statement true (T) or false (F)
Economics
In the consumption function, consumption is caused by changes in the:
a. price level. b. level of disposable income. c. interest rate. d. level of investment. e. level of real assets.
Economics
By definition, exports are
a. limits placed on the quantity of goods brought into a country. b. goods in which a country has an absolute advantage. c. people who work in foreign countries. d. goods produced domestically and sold abroad.
Economics
Discuss the history of government’s investments decisions
Please provide the best answer for the statement.
Economics