If ABC and XYZ operate to jointly maximize profits and agree to share the profit equally, then how much profit will each of them earn?

The production possibilities frontier is the boundary between those combination of goods and services that can be

A) produced and those that can be consumed. B) consumed domestically and those that can be consumed by foreigners. C) produced and those that cannot be produced. D) consumed and those that cannot be produced.

Assuming each policy is performed with the same magnitude, which of the following would be the most restrictive monetary policy action on the part of the Federal Reserve?

a. Sell government securities, raise reserve requirements, and lower the discount rate b. Buy government securities, raise reserve requirements, and raise the discount rate c. Sell government securities, lower reserve requirements, and raise the discount rate d. Sell government securities, raise reserve requirements, and raise the discount rate

Assume a market price gets set artificially low-that is, it gets set below the equilibrium price. This change means:

A. Every producer loses surplus, and it all gets transferred to consumers. B. Some producers drop out of the market, and those left lose some surplus. C. Every consumer gains surplus, due to the lower price now being charged. D. None of these is true.

Microeconomics is the study of how households and firms make decisions and how they interact in specific markets

a. True b. False Indicate whether the statement is true or false