The techniques of optimization in levels and optimization in differences:
A) cannot be used to compare the same set of alternatives.
B) provide identical answers when comparing the same set of alternatives.
C) may provide different answers when comparing the same set of alternatives.
D) compare only the costs and ignore the benefits of the alternatives.
B
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If an average cost pricing rule is imposed on the firm in the figure above, the deadweight loss will be
A) zero. B) $150. C) $50. D) $250.
The Federal Reserve System is a government insurance agency that provides depositors in participating banks 100 percent coverage on their first $100,000 of deposits
Indicate whether the statement is true or false
In a market economy, which of the following will most likely cause a prolonged milk shortage?
a. an increase in the demand for milk b. an increase in the supply of milk c. imposition of a price floor above the equilibrium price of milk d. imposition of a price ceiling below the equilibrium price of milk
Whenever central bankers face more than one goal, the policy framework requires:
A. central bankers to make their priorities clear. B. the central bank to always focus on inflation first. C. central bankers to focus on all goals, no matter what. D. economic growth to be the top priority.