National defense is an example of a public good.
Answer the following statement true (T) or false (F)
True
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A behavioral economist will explain Tom's donation to charity by saying that Tom is displaying ________
A) the endowment effect B) bounded rationality C) bounded self-interest D) bounded will power
Assume that price exceeds average variable cost over the relevant range of demand
If a monopolistically competitive firm is producing at an output where marginal revenue is $111.11 and marginal cost is $118, then to maximize profits the firm should increase its output.
If the top personal tax rate is higher than the top corporate rate, high income taxpayers have an incentive to _____
a. incorporate b. save c. engage in tax evasion d. purchase stock
Explain why the marginal propensity to save and the marginal propensity to consume sum to 1