Refer to Figure 3.1. Which graph best represents the total cost of an activity?
A. A
B. B
C. C
D. D
D. D
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Which of the following scenarios would be considered an investment according to economists?
A. The owner of a fishing company buys Google shares. B. The owner of a fishing company buys new fishing gear. C. The owner of a fishing company buys fuel to run the boats. D. A fishing company buys a few boats from another fishing company that was shutting down.
An example of a firm in monopolistic competition is
A) your local water company. B) the sole cable television company. C) the many Chinese restaurants in San Francisco. D) Kansas Power and Light, the sole provider of electricity in Kansas City. E) Shaniq, a wheat farmer.
Most tariffs have
A) only revenue effects. B) only protective effects. C) both protective and revenue effects. D) neither protective nor revenue effects.
The Chinese Exclusion Act of 1882 was the first restriction on immigration, in the U.S
a. True b. False Indicate whether the statement is true or false