A lawyer's ability to understand a client's legal situation and his professional norms may improve the outcome of a negotiation with another attorney, relative to the outcome if the client bargained for herself
Indicate whether the statement is true or false
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If the United States imposes a tariff on foreign chocolate, how are U.S. producers of chocolate affected?
A) The quantity of chocolate they sell decreases because U.S. consumption of chocolate decreases. B) The quantity of chocolate they produce increases. C) The price at which they sell their chocolate falls. D) They are harmed because foreign exporters of chocolate increase their supply in response to the higher price. E) They are unaffected because the quota applies to foreign producers, not to U.S. producers.
If the intersection of the IS curve with the horizontal axis comes at a level of output below the natural level of output, the Fed
A) can easily bring the economy back to the full-employment level of output. B) loses control of the economy. C) must use contractionary model policy to correct economic problem. D) must decrease money supply and ignore interest rates.
In the short run, all costs are variable
a. True b. False Indicate whether the statement is true or false
At his current level of output, a monopolist has an MR of $10, an MC of $6, and an economic profit of zero. If the market demand curve is downward sloping and his or her marginal cost curve upward sloping, the monopolist
A. is producing his or her profit-maximizing level of output. B. could increase his or her profit by increasing his or her output. C. could increase his or her profit by increasing his or her price. D. should exit the market if he or she has positive fixed cost.