Inside information
A) applies to proprietorships only.
B) applies to proprietorships and partnerships only.
C) applies to corporations only.
D) applies to all forms of business.
C
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Answer the following statement(s) true (T) or false (F)
1. According to the textbook application, CD packaging is a negative production externality. 2. At a competitive equilibrium, M? = 0, but at an efficient equilibrium MEC = 0. 3. At an efficient equilibrium, MSB = MSC, which implies that M? = MEC. 4. Property rights are the set of valid claims to a good or resource that allow its use and the transfer of ownership through a sale. 5. According to the Coase Theorem, assignment of property rights will permit bargaining that leads to an efficient solution only in the absence of externalities.
Which of the following statements is true?
A) Each country as a whole is made better off as a result of international trade, but individuals within each country may be made worse off. B) Within each country, some individuals are made better off as a result of international trade, but one of the countries will be worse off overall. C) Although some individuals are made better off as a result of international trade, both countries may be made worse off overall. D) All individuals in both countries are made better off as a result of international trade.
The marginal revenue product of labor curve is the firm's
A. MPP of labor curve divided by the wage rate. B. Marginal revenue curve. C. Marginal physical product multiplied by the wage rate. D. Demand curve for labor.
Suppose the price of public transportation increases. You know that the income effect of this increase is 5, the substitution effect is 10, but you do not know the signs. The total effect of the increase in the price of public transport could be either
A. -15 or 15. B. 15 or 5. C. 5 or -15. D. 5 or -5.