If consumers value the last unit of a product by more than it cost to produce it, welfare could be increased by ______.
a. stopping production
b. raising taxes
c. reducing output
d. expanding output
d. expanding output
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The bulk of exports from developed countries consists of:?
A. raw materials. B. agricultural products. C. education and technology. D. manufactured goods. E. services like banking and insurance.
If the price of a U.S. government bond is? $50 and the owner of the bond is entitled to? $2.50 income each? year, then the interest rate on the bond is? ______.
Which measure of money would we most likely use if we were interested in looking at spending in the economy?
A. Hard money B. M1 C. M2 D. Reserves.
The table below shows how the total cost of producing pottery vases varies with the number produced per day. The vases are sold in a perfectly competitive market, and the current equilibrium price is $50.
a. 4 vases per day. b. 2 vases per day. c. 5 vases per day. d. 3 vases per day. e. 1 vase per day.