In the presence of market failure, government involvement will lead to efficient outcomes.
Answer the following statement true (T) or false (F)
False
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If in the market for bananas the supply curve has shifted to the right, then
A) the supply of bananas has decreases. B) the quantity of bananas supplied has decreased. C) the quantity of bananas supplied has increased. D) the supply of bananas increased.
Federal housing policies have substantially reduced the established patterns of housing segregation
Indicate whether the statement is true or false
Hotels in New York City frequently experience an average vacancy rate of about 20 percent (i.e., on an average night, 80 percent of the hotel rooms are full). This kind of excess capacity is indicative of what kind of market?
a. monopoly b. perfect competition c. monopolistic competition d. oligopoly
If Ana devotes all her time to making fudge, she can make 3 pounds of fudge an hour, and if she devotes all her time to making toffee, she can make 2 pounds of toffee an hour. If Leo devotes all his time to making fudge, he can make 4 pounds of fudge an hour, and if he devotes all his time to making toffee, he can make 5 pounds of toffee an hour. Suppose that Ana and Leo decide to work together as a team. Can they produce 2 pounds of fudge and 4.5 pounds of toffee each hour?
A. No, this point is not attainable. B. Yes, this point is both attainable and efficient. C. No, this point is not attainable and inefficient. D. Yes, this point is attainable, but inefficient.