Economies of scope has to do with lowering production costs by increasing the quantity of a product produced, whereas economies of scale has to do with lowering production costs by producing several products within the same firm
Indicate whether the statement is true or false
FALSE
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The study of development economics is to understand
A) the personality factors that lead people to become entrepreneurs. B) why most of the patents on record have been given to men rather than to women. C) why some countries are rich and others are poor. D) why some products are successful in the market as soon as they are developed, whereas others do not catch on for years.
Non-traded securities are part of
A) direct but not indirect finance. B) indirect but not direct finance. C) direct and indirect finance. D) neither direct nor indirect finance.
Suppose there are 10 apples and 10 oranges in the economy. Joe is currently consuming 4 apples and 5 oranges, and Jane is consuming 6 apples and 5 oranges
At this allocation, Joe's marginal utility of apples is 3, and his marginal utility of oranges is 5. Jane's marginal utility of apples is 6, and her marginal utility of oranges is 10. If the current price of apples is $4 and the current price of oranges is $5, then there is an: A) excess demand for apples and an excess supply of oranges. B) an excess demand for oranges and an excess supply of apples. C) equilibrium in the market with no excess supply or demand for either good. D) an excess supply of apples and oranges.
In calculating the benefit-cost ratio, social benefits and costs are discounted at the
a. internal rate of return b. federal funds rate c. Treasury Bill rate d. long-term government bond rate e. none of the above