Economies of scale and scope encourage free competition
a. True
b. False
Indicate whether the statement is true or false
False
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A fiduciary monetary system has to have all of the following EXCEPT
A) trust. B) a central bank. C) acceptability. D) predictability of value.
If movement along a graph causes the value on the vertical axis to rise by 5 units and the value on the horizontal axis to fall by 10 units, the slope of the function is
A. 5 B. ?.5. C. ?2. D. ?72.
The value of the price elasticity of demand for a straight-line demand curve starts with low elasticity values at high prices and has high elasticity values at low prices.
Answer the following statement true (T) or false (F)
The figure above shows the costs associated with producing paper. When paper is produced, there is some pollution runoff into a lake. The marginal private cost when output equals 2 tons of paper per week equals
A) $50 per ton B) $100 per ton. C) $150 per ton. D) None of the above answers is correct.