Economists who study terrorism use a similar definition of ________ as economists who study criminals.

A. "moral"
B. "rational"
C. "understandable"
D. "sensible"


Answer: B

Economics

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Globalization has given U.S. consumers a wider variety of gourmet food products from which to choose and has lowered the prices of these products in general

This, in turn, has encouraged consumers to buy more gourmet food items, which has ________ the amount of cooperative surplus for the buyers and sellers of gourmet food products. A) increased B) decreased C) not changed D) reduced to zero

Economics

"I'm losing money, but since my fixed costs are so high, I simply cannot afford to shut down." If the firm were attempting to maximize profit, this decision may be: a. correct if price is less than average variable cost

b. incorrect because a firm experiencing economic losses should never continue to operate. c. correct if the firm is covering all of its variable costs. d. incorrect since a firm should shut down whenever price falls below average total cost in the short run.

Economics

A market shortage occurs when:

A.) The quantity demanded is less than the quantity supplied at a given price. B.) The market price is below equilibrium. C.) Sellers produce a lot of the product and consumers like it a lot. D.) A new product is introduced at the equilibrium price.

Economics

Describe two reasons why businesses hesitate to change prices

What will be an ideal response?

Economics