Which of the following would most likely cause the production possibilities curve for DVDs and food to shift outward?
a. A choice of more food and more DVDs.
b. A choice of more food and less DVDs.
c. A choice of more DVDs and less food.
d. An increase in the quantity of natural resources.
d
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Direct controls work if
A. there is vigilance and enthusiasm in enforcement by the regulatory agency. B. the court system prosecutes cases no matter how long it takes. C. there are affordable penalties imposed by the legal system. D. each polluter pays the same charge for pollution reduction.
Market economies produce only a few relatively minor defects
a. True b. False Indicate whether the statement is true or false
Which of the following kinds of markets most closely resembles a monopoly market in its price and output level?
A. A market in which firms are engaged in a price conspiracy. B. A monopolistically competitive market. C. An oligopoly market. D. None of the choices will be similar in outcome.
Refer to the above table. Brook's utility schedule shows
A. initially decreasing marginal utility and then increasing marginal utility. B. increasing marginal utility throughout her entire schedule. C. diminishing marginal utility throughout her entire schedule. D. initially increasing marginal utility and then decreasing marginal utility.