An increase in the interest rate causes the MRP of a resource to fall
a. True
b. False
Indicate whether the statement is true or false
True
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Information asymmetries are defined to be when:
A. one party to a transaction has more information that another. B. information isn’t readily available to anyone. C. both sides to a transaction have equal information. D. one party withholds information from the other party.
Exhibit 7-16 Short-run cost curves for a competitive firm
?
In Exhibit 7-16, if the market price of its product is $50 per unit, then the firm will:
A. break even. B. shut down. C. exit the industry. D. earn a positive economic profit.
An increase in the quantity of hybrid cars supplied would be caused by which of the following?
A. An increase in the demand for hybrid cars B. A decrease in the demand for hybrid cars C. Higher prices of car batteries D. Lower prices for gasoline
If a good has an absolute price elasticity of 4, the demand for the good is
A) unit elastic. B) inelastic. C) perfectly elastic. D) elastic.