Goods that are actually produced by firms are not really limited in supply, because the firms can always produce more of them.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Assume the price of beer is $4, the price of pizza is $10 and the consumer's income is $250. Which consumption bundle will NOT be the consumer's choice?
A) A (5 Beers, 5 Pizzas) B) B (0 Beers, 25 Pizzas) C) C (25 Beers, 15 Pizzas) D) None of the above bundles will be chosen.
When negative externalities exist, the private market equilibrium represents a
A) market price which is too low and a market quantity which is too low. B) market price which is too low and a market quantity which is too high. C) market price which is too high and a market quantity which is too low. D) market price which is too high and a market quantity which is too high.
US Exports After staying around 1.35 US dollars per Euro for years, the exchange rate fell below 1.25 US dollars to a euro during the summer of 2014 . What affect does this have US exports to Europe?
Possible goals of Not-For-Profit (NFP) enterprises include all of the following EXCEPT:
a. maximize total costs b. maximize output, subject to a breakeven constraint c. maximize the happiness of the administrators of the NFP enterprise d. maximize the utility of the contributors e. a and c