Public choice economists point out that when the government enters into the market, the incentive is to achieve its goal in the least-cost manner.
Answer the following statement true (T) or false (F)
False
According to public choice economists, the incentive is not to achieve its goal in the least-cost manner but to provide a policy that voters like.
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"Oligopoly is the only market structure in which rivalry among firms takes place." Do you agree or disagree? Why?
What will be an ideal response?
A firm sells 1000 units per week. It charges $70 per unit, the average variable costs are $25, and the average costs are $65 . At what price would the firm consider shutting down in the long run?
a. $10 b. $25 c. $65 d. $70
The typical 50-year-old male earns approximately ____ as a male in his early 20s
a. twice as much b. the same c. half as much d. 1/3 as much
Macroeconomics is best suited to answering questions such as
a. what determines the unemployment rate among students on this campus b. why rent is higher in big cities than in smaller ones c. how fast the overall price level will rise next year d. what determines the demand for public transportation in rural areas e. why sales taxes in this area are increasing