Which of the following statements is CORRECT?
A) Because information is different from typical goods and services, it cannot be provided in a market.
B) The marginal benefit from more information does not decrease.
C) Too little information is provided if the market for information is a monopoly.
D) Acquiring more information can never be inefficient.
C
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If a firm faces a labor supply curve that is positively sloped, then the marginal cost of labor curve
A) equals the wage rate. B) equals the minimum wage. C) lies above the value of marginal product curve. D) lies above the labor supply curve.
A positive economic statement must be verifiable
a. True b. False Indicate whether the statement is true or false
Karl Marx was a(n):
a. 19th century German philosopher. b. 18th century Russian economist. c. 14th century Polish banker. d. 19th century Russian journalist.
State governments' main source of revenue is
a. property taxes. b. income taxes. c. excise taxes. d. sales taxes.