If there are 100 identical firms in a perfectly competitive industry, and the typical firm supplies 50 units of output at a price of $30, the industry output is 5,000 units at a price of $30.
Answer the following statement true (T) or false (F)
True
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Refer to the figure above. Social welfare will be maximized if ________ units of Good Y are produced
A) 9 million B) 20 million C) 13 million D) 16 million
One concern is that while _________________ may be benefiting high-skilled, high-wage workers in the United States, it may also impose costs on low-skilled, low-wage workers.
a. international trade b. blocking trade c. economic decline d. limiting trade
Money eliminates the need for a coincidence of wants primarily through its use as a:
A. store of value. B. medium of exchange. C. unit of account. D. standard of confidence.
What evidence is there that the transaction costs involved with the buying and selling of stocks is low?
What will be an ideal response?