The above figure shows three different supply-and-demand graphs. Which graph best represents the market for vacations on Mars?
A) Graph A
B) Graph B
C) Graph C
D) None of the above
A
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If managers decrease the size of the order they place, the ordering cost ________ and the carrying cost ________.
A) rises; rises B) falls; rises C) rises; falls D) falls; falls
Government provide public goods such as national defence because:
a) governments are more efficient than private firms at producing public goods b) people do not value national defence very highly c) of the potential that private firms will make excess profit d) of the free-rider problem which results in underproduction by private firms
A change in the exchange rate for a country's currency alters the prices of
A. Imports only. B. Exports only. C. Both exports and imports. D. Only domestic goods and services.
The corporate income tax in the United States
A. only taxes retained earnings. B. results in individuals' being doubly taxed on corporate earnings. C. excludes dividends paid out. D. does not apply to profits earned on exports.