In the case of perfect complements, more is not necessarily better.
?
Answer the following statement true (T) or false (F)
True
Rationale: Perfect complements represent an extreme case in that more of one component is not better if the other is missing; only more of both goods is better.
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The demand and supply schedules for pizza are in the table above. A price ceiling of $2 per slice results in
A) a surplus of 20 slices of pizza. B) a shortage of 20 slices of pizza. C) a shortage of 40 slices of pizza. D) a shortage of 60 slices of pizza. E) neither a shortage nor a surplus.
For each short-run average total cost curve, the ________ the plant, the ________ is the output at which average total cost is at a ________
A) larger; greater; maximum B) larger; greater; minimum C) larger; smaller; minimum D) smaller; smaller; minimum
When did the United States register its lowest unemployment rate?
A) in the 1920s B) in the economic boom of the 1990s C) in the Roaring Nineties (1890s) D) at the end of World War II
A tax on an imported good is called:
a. an export. b. dumping. c. a quota. d. a tariff. e. free trade.