The efficient quantity of a public good is the quantity that has the highest possible marginal social benefit
Indicate whether the statement is true or false
FALSE
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Mercantilist policy is to do everything it can to promote exports and to discourage imports
a. True b. False Indicate whether the statement is true or false
International data on the history of real GDP growth rates shows that over the last 120 years or so, rich countries got richer and poor countries got poorer
a. True b. False Indicate whether the statement is true or false
In which of the following ways is monopolistic competition similar to the monopoly market?
a. Both have a vertical demand curve. b. Both have a horizontal demand curve. c. Both have an upward-sloping demand curve. d. Both have a downward-sloping demand curve.
Refer to the diagrams. In diagram (B) the profit-maximizing quantity is:
A. g and the profit-maximizing price is e.
B. h and the profit-maximizing price is e.
C. g and the profit-maximizing price is f.
D. g and the profit-maximizing price is d.