To calculate the slope of a curved line, you can calculate the slope at a point on the curve or across an arc of the curve
Indicate whether the statement is true or false
TRUE
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After researching the effectiveness of child safety seats in reducing the accident death rate of children ages one to four, economist Steven Levitt found that
A) for children under age four, safety seats are safer than any alternative. B) for children under age two, safety seats are safer than any alternative, but beyond age two, they provide no appreciable benefit over standard car seat belts. C) safety seats are actually more dangerous than standard car seat belts for children of any age. D) safety seats provide no appreciable benefit over standard car seat belts for children of any age.
If the MPC = 0.80, the tax multiplier is
A) -2. B) -4. C) -5. D) -8.
If adverse selection exists in a market
A) the government steps in and shuts it down. B) the market is considered a "grey market." C) consumers may not participate in the market at all. D) total surplus is maximized.
Milky Moo and Mega Cow are the only sellers of milk. Milky Moo's supply function is QsMMoo = 12P - 6 at prices above $0.50 and zero at prices below $0.50. Mega Cow's supply function is QsMCow = 9P - 3 at prices above $0.33 and zero at prices below $0.33. In this case, the market supply curve for milk is:
A. kinked at a price of $0.33. B. kinked at a price of $0.50. C. downward sloping. D. an upward sloping straight line.