"An increase in the price of oranges will increase the demand for grapefruits." This statement is an example of a normative economic statement
Indicate whether the statement is true or false
FALSE
Economics
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If Sally purchases a particular compact disk, it is because the opportunity cost is higher than it would be for any other compact disk
a. True b. False
Economics
Taxes on polluting emissions are
a. more efficient than direct controls. b. used by all economic societies. c. less effective than direct regulations. d. easily enforced through the criminal justice system.
Economics
Figure 10-7
In Figure 10-7, through which point must a horizontal demand curve pass to yield a long-run equilibrium?
a.
A
b.
B
c.
C
d.
All of the above is correct.
Economics
The demand curve for the product of a monopolistic competitor
A) is the same as the market demand curve. B) is horizontal. C) is vertical. D) slopes downward.
Economics