An increase in the price of MP3 players will result in
A) a smaller quantity of MP3 players supplied. B) an increase in the supply of MP3 players.
C) a decrease in the demand for MP3 players. D) a larger quantity of MP3 players supplied.
D
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Refer to Table 9-11. Prior to trade, what was the opportunity cost to produce 1 hat in Belize?
A) 1/2 of a clock B) 2/3 of a clock C) 1.5 clocks D) 2 clocks
Positive statements can contain
A) opinions and conditions. B) facts and predictions. C) a mixture of facts and opinions. D) logical arguments mixed with statements of opinion.
Excluding criminal activities, the underground economy in the United States is equivalent in value to approximately what percentage of the GDP?
a. 10 to 15 percent b. 20 to 25 percent c. 30 to 35 percent d. not determinable
Marginal cost pricing regulations for a natural monopolist ensure that
a. b and e b. price reflects the value society places on the last unit produced c. output will continue to grow until the required subsidy is zero d. fair pricing schemes are more profitable e. subsidization will be necessary