In economics, scarcity implies
A) disutility.
B) utility.
C) choice.
D) inefficiency.
E) a, c, and d
C
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If a pooling equilibrium is played in a signaling game, the receiver will update her beliefs about the sender before settling on her best option.
Answer the following statement true (T) or false (F)
The above figure shows the marginal benefits and marginal costs of a college education. If a voucher for $5,000 is given to the students, then colleges charge tuition of
A) $0. B) $5,000. C) $10,000. D) $15,000.
Assume that you start by hiring one worker at a time. Each time you hire an additional worker the average productivity remains the same
What does this imply about the marginal productivity of each worker that you hire? What will the marginal productivity function look like when graphed?
During the Civil War, the government faced two classic problems: How to acquire the financial resources it needed to carry on the affairs of government and, at the same time, stabilize the monetary system. It solved this dual problem by creating
a. Continental currency which soon rapidly depreciated b. the Second Bank of the United States c. a national banking system by enacting the National Bank Act d. the Exchequer of the Currency department to abolish the national currency e. speculative land notes that could easily be converted to gold