When there are positive externalities associated with the consumption of a good, we can expect the market
a. demand curve to lie above the social demand curve
b. demand curve to lie below the social demand curve
c. supply curve to lie above the social supply curve
d. supply curve to lie below the social supply curve
e. demand curve to lie below the social supply curve
B
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The Constitution of the United States grants ________ the authority to regulate commerce and to impose tariffs
A) Congress B) the President C) the Supreme Court D) the U.S. Trade Representative
Jim is haggling with a car dealer, along with another customer, over the sale price of a used car. When he entered the store, the storekeeper was already haggling with the other customer. His bargaining position would improve if
a. The other customer leaves b. He receives an offer from a competing car dealer c. He can make it clear that he will leave if his offer isn't accepted d. All of the above
The owners of a corporation are
a. stockholders b. managers c. sole proprietors d. partners e. at risk of bankruptcy if the firm makes losses
Firms need to know the shape of a demand curve to use marginal analysis
a. True b. False Indicate whether the statement is true or false