What is one reason the eBay seller reputation system is important?
A) eBay transactions tend to be isolated, one-off transactions.
B) eBay transactions tend to be repeat sales between the same seller and buyers.
C) eBay transactions often involve stolen products.
D) eBay transactions require a larger percentage than, say, Amazon transactions.
A
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Positive externalities
a. result in a larger than efficient equilibrium quantity. b. result in smaller than efficient equilibrium quantity. c. result in an efficient equilibrium quantity. d. can be internalized with a corrective tax.
An increase in the supply of corn in Brazil will
A. shift the supply curve of US corn to the right. B. shift the supply curve of US corn to the left. C. shift the demand curve for US corn to the right. D. shift the demand curve for US corn to the left.
If, at the output where marginal revenue equals marginal cost, price is below average variable cost, a firm will shut down in the short run.
Answer the following statement true (T) or false (F)
The return to any factor of production that is in fixed supply is called
A. pure rent. B. marginal product. C. demand. D. economic profit.