The median voter must have preferences that reflect those of all people in the community.
A. True
B. False
C. Uncertain
B. False
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If not recycled, an input used in production ultimately winds up as a waste product.
Answer the following statement true (T) or false (F)
All else equal, as the price of oil rises, potential profits from producing oil ________ which ________ oil companies to look for additional sources of oil
A) increase; encourages B) increase; discourages C) decrease; encourages D) decrease; discourages
The longer the time period considered, the elasticity of supply tends to: a. decrease
b. remain constant. c. increase. d. converge to zero.
The stand-alone selling price of a good or service may be highly uncertain because the seller
A. has not previously sold the good or service. B. sells the product or service in various combinations with other goods or services. C. provides the same good or service to different customers at substantially different prices