Universal service may require making a service available in small communities where the limited scale of operations may make costs extremely high
a. True
b. False
Indicate whether the statement is true or false
True
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In the above figure, a change in quantity supplied with unchanged supply is represented by a movement from
A) point a to point e. B) point b to point a. C) point e to point c. D) point b to point e.
One reason that economists encourage free trade is that
A) it encourages a more rapid spread of technology. B) it allows us to exploit the workers of less developed countries. C) we can sell more goods. D) it increases our capital stock.
Suppose a consumer is spending his or her entire budget. In order to obtain the most satisfaction from his or her purchases, all goods should:
a. provide the same marginal utility per dollar. b. be consumed in equal quantities. c. have identical marginal utilities. d. give the consumer matching amounts of total utility.
The consumption contract curve
A. is always a straight line. B. is the locus of Pareto optimal points. C. will always have the same MRS. D. is always negatively sloped.