In the market for gasoline, an increase in the federal excise tax on gasoline would shift the supply curve up
Indicate whether the statement is true or false
TRUE
Economics
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"Marginal cost" means
What will be an ideal response?
Economics
For a country in autarky, the opportunity cost of the good on the horizontal axis is the same as
A) the relative price of the good on the vertical axis. B) the relative price of the good on the horizontal axis. C) the opportunity cost of the good on the vertical axis. D) the nominal price of the good on the horizontal axis.
Economics
The monopolistically competitive firm earns zero economic profit in the long run.
Answer the following statement true (T) or false (F)
Economics
Suppose TC = 10 + (0.1 ? q2). If there are 100 identical firms in the market, the market supply curve is
A) Q = 1000 ? p. B) Q = 500 ? p. C) Q = 100 ? p. D) Q = 10.
Economics