When a tax is placed on the sellers of cell phones, the size of the cell phone market
a. and the price paid by buyers both increase.
b. increases, but the price paid by buyers decreases.
c. decreases, but the price paid by buyers increases.
d. and the price paid by buyers both decrease.
c
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If inflation is eight percent, a nominal interest rate of six percent translates into a real interest rate of two percent
Indicate whether the statement is true or false
A __________ good is one that once produced and provided to one person, provides benefits to other persons.
A. consumption B. investment C. private D. public
Wealthy consumers do not have to make decisions on what to buy or how much to save
a. True b. False Indicate whether the statement is true or false
When marginal cost is positive, total cost is ________ as output increases.
A) increasing
B) decreasing
C) constant
D) negative
E) undefined