Hasan eats two slices of pizza. What is the total utility of these two slices?
a. 8
b. 10
c. 18
d. 24
c. 18
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Use the following graphs for a perfectly competitive market in the short run to answer the next question.
What will happen in the long run to market supply and the equilibrium price of the product?
A. Market supply will increase and equilibrium price will increase. B. Market supply will decrease and equilibrium price will decrease. C. Market supply will decrease and equilibrium price will increase. D. Market supply will increase and equilibrium price will decrease.
For a good where network externalities are present, having an early lead in the race for customers may be the only lead necessary to ultimately win the race for dominance in the good's market.
Answer the following statement true (T) or false (F)
A corporation is legally owned by its
a. chief executive officer. b. board of directors. c. bondholders. d. stockholders.
The term protectionism, when applied to international trade, refers to governmental restrictions and incentives to affect trade flows.
a. true b. false