Homeowners receive tax benefits that are not available to renters
a. True
b. False
Indicate whether the statement is true or false
True
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A perfectly competitive firm produces 50 units of output, at equilibrium, in the short run. The total cost borne by the firm is $300 and the average revenue is $2 . Therefore, the firm:
a. is just breaking even. b. is earning positive profits. c. is facing a positively sloped demand curve. d. is suffering losses. e. is experiencing diseconomies of scale.
Distinguish between a command-and-control economic system and a price system
What will be an ideal response?
Recall the Application about the wireless phone service provided by thousands of entrepreneurial women in Pakistan to answer the following question(s).Recall the Application. What makes the wireless telephone market in the United States not perfectly competitive?
A. There are many buyers and many sellers in the United States B. It is very expensive to enter the market in the United States. C. Wireless phone calls are a standardized product. D. All of these are correct.
A situation in which the price charged is greater than society's opportunity cost would lead to
A) market failure. B) marginal monopoly pricing. C) marginal profits. D) marginal cost pricing.