An isoquant shows
A) the combinations of two inputs that yield the same total product.
B) the combinations of two inputs that cost the same total quantity of money.
C) the combinations of two goods that yield the same total satisfaction.
D) the combination of two goods that cost the same amount of money.
A
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In an auction where the bidders values are $740, $700, $660, $650, $400, $325 and $300, the highest three bidders decide to form a bid-rigging cartel. What would the winning bid be in this auction?
a. $741 b. $701 c. $651 d. $631
The purchase of French wine by U.S. consumers will be accounted as:
a. a deficit in the services account. b. a credit in the merchandise account. c. a debit in the services account. d. a surplus in the services account. e. a debit in the merchandise account.
If exports and imports both rose, but exports rose less than imports, a. AD would decrease
b. AD would increase. c. AD would be unaffected. d. AD could either increase or decrease.
The problem generally associated with public goods is:
A. free-riding. B. adverse selection. C. moral hazard. D. self-selection.