Costs that pertain to finding a trading partner and making a trade are called
A) transaction costs.
B) transgression costs.
C) consumption costs.
D) transaction taxes.
A
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Economics studies the logic of choices made from among available possibilities.
Answer the following statement true (T) or false (F)
Refer to the above figure. Ajax and Greenco are oligopolists. Above you are given the payoff matrix for the two firms giving the payoff associated with different pricing strategies
What is the best strategy for Greenco if Ajax decides on charging a high price? A) high price B) low price C) There is no best strategy. D) Not enough information is given to determine the best strategy.
Which of the following statements is TRUE?
A) investment = disposable income + consumption B) saving = personal income - consumption C) saving = disposable income - consumption D) saving = personal income + consumption
Libertarians believe that
a. the government should choose just policies as evaluated by an impartial observer behind a "veil of ignorance.". b. the government should aim to maximize the well-being of the worst-off person in society. c. everyone in society should have equal utility. d. the government should not redistribute income.