What is a positive statement? Give an example
What will be an ideal response?
A positive statement addresses "what is" and can be tested. An example of a positive statement is "An increase in the price of gasoline decreases the quantity of gasoline demanded."
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Refer to the scenario above. The situation here is similar to that in a(n) ________
A) prisoners' dilemma B) zero-sum game C) ultimatum game D) symmetric game
Rate of return regulation, as currently applied to many natural monopolies such as public utilities,
A) generally involves the use of price caps. B) gives the firms an incentive to inflate their costs. C) gives the firms an incentive to cut their costs as much as possible. D) generally keeps their prices higher than if they were unregulated monopolists.
If Sam's opportunity cost of a sweater is $37, which of the following prices would he have to observe in the market in order to sell a sweater?
A. $37 B. $37.01 C. $50 D. Sam would sell a sweater at any of these prices.
A popular resort restaurant will maximize profits if it chooses to stay open during the less-crowded "off season" when its total revenues exceed its variable costs
a. True b. False Indicate whether the statement is true or false