All points below the budget line are
A) inferior to every point on the budget line.
B) preferred to every point on the budget line.
C) affordable.
D) Answers A and C are correct.
C
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Refer to Figure 1A.1. The slope of the line between the points where hours worked per week are 20 and hours worked per week are 30 is
A) 0.2. B) 5. C) 10. D) 50.
Economists who have studied economic growth find strong evidence of convergence
Indicate whether the statement is true or false
Double marginalization (first encountered in Chapter 4) complicates access pricing in telecommunications
Indicate whether the statement is true or false
According to the graph shown, if the market goes from equilibrium to having its price set at $10 then:
A. area (C + E) is deadweight loss.
B. area B is transferred surplus from consumers to producers.
C. $12 of surplus gets transferred from consumers to producers.
D. All of these are true.