If we assume perfect information, perfect mobility of resources, and no transactions costs, then there is little need for firms
a. True
b. False
A
Economics
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Explain why resources are used efficiently in a competitive market
What will be an ideal response?
Economics
Which of the following cost functions will exhibit both decreasing and increasing marginal costs?
A) a cubic cost function B) a quadratic cost function C) a linear cost function D) All of the above
Economics
If the U.S. Treasury is forced to sell bills and bonds to the U.S. public to finance deficits, this may ________ the price of bonds and ________ the interest rates on the bonds.
A. drive up; drive up B. drive down; drive up C. drive down; drive down D. drive up; drive down
Economics
Of all Medicaid spending, ________ goes for the health needs of the elderly.
A. 65% B. 13% C. 20% D. 50%
Economics