If a good is quasilinear, its own-price demand curve is vertical.
Answer the following statement true (T) or false (F)
False
Rationale: The own-price demand curve is vertical for goods that are borderline between regular inferior and Giffen, not goods that are borderline between normal and inferior.
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What evidence exists that industrial concentration increases the rate of technologicaladvance?
What will be an ideal response?
The money supply is ________ related to the nonborrowed monetary base, and ________ related to the level of borrowed reserves
A) positively; negatively B) negatively; not C) positively; positively D) negatively; negatively
When the borrowing constraint is binding, ________
A) wealth is zero B) current consumption is lower than future consumption C) future consumption is lower than current consumption D) consumption smoothing is not possible
Suppose Erie Textiles can dispose of its waste "for free" by dumping it into a nearby river. While the firm benefits from dumping waste into the river, the waste reduces fish and bird reproduction. This causes damage to local fishermen and bird watchers. At a cost, Erie Textiles can filter out the toxins, in which case local fishermen and bird watchers will not suffer any damage. The relevant gains and losses (in thousands of dollars) for the three parties are listed below. WithFilterWithoutFilterGains to Erie$200$400Fisherman$180$50Bird Watchers$130$25When Erie Textiles operates without a filter, the total gain (in thousands of dollars) to all three parties is ________.
A. $985 B. $510 C. $325 D. $475