Refer to Figure 7.1. Suppose that instead of $350, Angus earns only $250 by playing the bagpipes, but all other earnings remain the same. Who values the property rights to the air more?
A) Angus
B) Dudley
C) They value the property rights equally.
D) Neither value the property rights.
B
Economics
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The marginal cost of investment for the firm is equal to
A) 1. B) -1. C) MP'K. D) -MP'K.
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Which of the following pairs of goods would most likely exhibit a cross price elasticity of -1.8?
a. orange juice and grapefruit juice b. coffee and tea c. a bagel and cream cheese d. a van and a sport utility vehicle
Economics
Marginal cost is equal to average total cost when
a. average variable cost is falling. b. average fixed cost is rising. c. marginal cost is at its minimum. d. average total cost is at its minimum.
Economics
unemployment compensation and welfare payments
What will be an ideal response?
Economics