If the more-is-better principle holds, then indifference curves must:
A. be positively-sloped.
B. be negatively-sloped.
C. be thin.
D. be concave.
B. be negatively-sloped.
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You are the brand manager of Crest toothpaste and you observe that when you increase the price of Crest, your total revenue increases. How is that possible?
What will be an ideal response?
An economic agent ________ when he accounts for the full costs and benefits of his actions
A) is called a free rider B) internalizes an externality C) maximizes his profit D) is called a rent seeker
A firm's production function is the relationship between the factors of production and the resulting outputs of the production process
Indicate whether the statement is true or false
When economists speak of the demand for money, they refer to the amount of money people would like to hold
a. given that it can only be printed slowly b. in the best of all possible worlds c. in their bank accounts rather than their wallets d. at each interest rate e. rather than spend