Barbie is deciding whether to play soccer or go swimming over the next hour. She decides to swim. Economists would conclude that Barbie:
A. is revealing a preference for swimming over soccer.
B. will get less utility from swimming during the next hour than playing soccer.
C. was unable to play soccer at that time.
D. is more skilled at swimming than playing soccer.
A. is revealing a preference for swimming over soccer.
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The World Bank was created as a result of the Bretton Woods conference and was originally focused on the reconstruction of Europe after World War II
Indicate whether the statement is true or false
A natural monopoly has
A. many producers of the same product. B. easy access to the market. C. a single firm providing the industry's output. D. one buyer of output.
Tariffs tend to escalate with stages of processing
Indicate whether the statement is true or false
Which of the following is an accurate description of long-run equilibrium for a perfectly competitive firm?
a. At the equilibrium point, the average total costs for short run and long run are unrelated. b. At the equilibrium point, the average total costs for short run are lower than for long run. c. At the equilibrium point, the average total costs for short run are higher than for long run. d. At the equilibrium point, the average total costs for short run and long run are equal.