Indifference curves on the same indifference map can have different shapes
Indicate whether the statement is true or false
True . Indifference curves can meet all the necessary requirements and still have different shapes.
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There is a government budget surplus if
A) G > T. B) G > TR. C) T - TR > G. D) TR < T.
Good Boy Super Treats produces healthy treats for dogs. At its current advertising level, Good Boy Super Treats marginal cost of advertising is $1 million and their marginal benefit is $1 million. Which of the following is true?
A) If the firm increases the amount of advertising, its net profit will increase. B) The firm should increase the amount of advertising to increase its net profit. C) The firm is currently maximizing its net profit. D) If the firm decreases the amount of advertising, its net profit will increase.
A cartel is
A. a group of oligopolists who try to behave like a single monopolist and split the benefits among themselves. B. a government-approved organization for the exchange of technical information among firms. C. a form of competition among oligopolists. D. a regulated industry that is officially permitted to set the price of its product above long-run average total cost.
The market supply of labor depends on the
a. number of employers b. marginal revenue product of labor c. price of the product being produced d. number of available workers