One theory discussed in the textbook is that there is a direct relationship between the opportunity cost of having children and the number of children a woman will have
Indicate whether the statement is true or false
False
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Which of the following describes a difference between the marginal revenue and demand curves of a perfectly competitive firm and a monopolistically competitive firm?
A) The marginal revenue curve of a monopolistically competitive firm lies below its demand curve; the marginal revenue curve of a perfectly competitive firm lies above its demand curve. B) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies below its demand curve. C) The monopolistically competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a perfectly competitive firm lies below its demand curve. D) The perfectly competitive firm's marginal revenue and demand curves are the same; the marginal revenue curve of a monopolistically competitive firm lies above its demand curve.
Assume Econville’s production possibility frontier divides goods into capital goods and consumer goods and that currently the country is both allocatively and productively efficient. How is this shown on the production possibility frontier?
a. Econville is operating inside its production possibility frontier. b. Econville is operating outside its production possibility frontier. c. Econville is operating on the production possibility frontier. d. It is not possible to show allocative and productive efficiency on the production possibility frontier.
Evaluating normative statements involves values as well as facts
a. True b. False Indicate whether the statement is true or false
A decrease in the demand for recreational fishing boats might be caused by
A. a decrease in the number of sports fishers. B. an increase in the price of fishing boats. C. a decrease in the price of fishing boats. D. an increase in the number of sports fishers.