You and your friends eat potato chips in your bedroom. For you and your friends, the potato chips are rival in consumption
a. True
b. False
Indicate whether the statement is true or false
True
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Why does a rent ceiling create an inefficient and unfair outcome in the housing market?
What will be an ideal response?
In the short run,
a. higher productivity means higher cost. b. lower productivity means lower cost. c. lower productivity means higher cost. d. productivity and cost are unrelated.
The total revenue graph consistent with Table 8.1 is
A) linear and upward-sloping. B) linear and horizontal. C) linear and vertical. D) linear and downward-sloping. E) concave downwards.
The Council of Economic Advisers' Economic Report of the President discusses recent developments in the economy and presents the council's analysis of current policy issues
a. True b. False Indicate whether the statement is true or false