One of the most obvious clues to the relative scarcity of a product is
A) the limited selection of colors. B) the quality of the product.
C) the variations in available sizes. D) its current market price.
D
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Which of the following statements regarding human capital is INCORRECT?
A) Human capital is the accumulated skill and knowledge of human beings. B) Education is the only vehicle for the creation of human capital because training simply reinforces what has already been learned. C) The accumulation of human capital is the source of both increased productivity and technological advance. D) Writing and mathematics, the most basic of human skills, are crucial elements in economic progress.
The above figure illustrates a single-price unregulated monopolist. If the monopolist maximizes its profit, the deadweight loss equals ________
A) $10,000 B) $20,000 C) $45,000 D) $40,000
Artificial intelligence (AI) refers to creating and using intelligent machines that work and react like humans.
Answer the following statement true (T) or false (F)
The law of one price fails as a result of:
A. similar technical specifications. B. insignificant transportation costs. C. low tariffs. D. goods that cannot be traded.