Import restrictions create an incentive to smuggle.
Answer the following statement true (T) or false (F)
True
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Suppose India and France have the same PPF, shown in the figure above. Based on their current production points, India's most likely future PPF is ________, and France's most likely future PPF is ________
A) PPF1; PPF2 B) PPF2; PPF2 C) PPF1; PPF1 D) PPF2; PPF1 E) PPF0; PPF0
Refer to Figure 16-6. Sensei's friend, Marcel, suggests that he charge a one-time membership fee to use the martial arts school, in addition to a per-class charge
Suppose Sensei charges the monopoly price for each class and also imposes a one-time membership fee. What is the maximum amount of revenue from the membership fee he can collect from all his customers? A) an amount equal to the area A + B B) an amount equal to the area H + G C) an amount equal to the area E + F D) an amount equal to the area A + C + H
In finance, risk is most commonly measured by
A) the probability distribution. B) the standard deviation. C) the average deviation. D) the square root of the standard deviation.
Both the marginal cost and the average variable cost curves are U-shaped. At the minimum point on the average variable cost curve, the marginal cost must be:
A. greater than the average variable cost. B. less than the average variable cost. C. equal to the average variable cost. D. at its minimum.