The formation of cartels is illegal in the United States and the European Union
a. True
b. False
Indicate whether the statement is true or false
True
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How has air quality changed in the United States since 1980?
What will be an ideal response?
Increases in both labor and capital productivity will result in:
A) downward shift of the average and marginal product curves and upward shift of the average cost curves. B) downward shift of the average and marginal product curves and downward shift of the average cost curves. C) upward shift of the average and marginal product curves and downward shift of the average cost curves. D) upward shift of the average and marginal product curves and upward shift of the average cost curves.
The monopoly supply curve is the
A) same as the competitive market supply curve. B) portion of marginal costs curve where marginal costs exceed the minimum value of average variable costs. C) result of market power and production costs. D) none of the above
Taxing people according to their marginal valuations of a public good may be efficient, but it may not be fair if the ability to pay differs
a. True b. False