People have incentive to efficiently and effectively use land in the public domain or held by a communal group
Indicate whether the statement is true or false
False
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Why should consumers be concerned about collusive agreements? What legal remedies are available now?
Sally can make 8 cups of soup per hour or 20 crackers per hour. Harry can make 10 cups of soup per hour or 30 crackers per hour. Can Sally and Harry gain from trade? If so, what is the range of prices of crackers for soup at which they would both find trade advantageous?
For a monopolistically competitive firm in long-run equilibrium,
A. the demand curve must intersect the average total cost curve at the ATC curve minimum. B. at the profit-maximizing quantity, the demand curve must be tangent to the average total cost curve. C. the demand curve must be tangent to the average total cost curve at the ATC curve minimum. D. at the profit-maximizing quantity, the demand curve must intersect the average total cost curve.
An economy in which output has decreased and prices have increased would suggest that there has been a:
A. negative demand side shock. B. negative supply side shock. C. positive demand side shock. D. positive supply side shock.