It is because firms consciously try to balance social costs and benefits that efficiency conditions of perfect competition come about.
Answer the following statement true (T) or false (F)
False
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What is the main advantage and the main disadvantage of organizing a businesses as either a proprietorship or as a partnership rather than as a corporation?
What will be an ideal response?
Which of the following is an example of a commodity money?
A) gold coins B) dollar bills C) British pound notes D) Japanese yen notes
In order for antitrust laws to raise social welfare, the government must
a. disallow synergy benefits from accruing to monopolists. b. disallow any mergers from taking place. c. be able to determine which mergers are desirable and which are not. d. always attempt to keep markets in their most competitive form.
The 2002–2008 OPEC price increases caused by conflict in the Middle East caused the aggregate
A. demand curve to shift outward. B. demand curve to shift inward. C. supply curve to shift outward. D. supply curve to shift inward.