The Federal Reserve considers any business with less than __________ employees to be "small."
A) 10
B) 100
C) 500
D) 1500
C
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Compare the consumer surplus, producer surplus, and deadweight loss that arise from average cost pricing with those that arise from profit-maximization pricing and marginal cost pricing
What will be an ideal response?
All else constant, an increase in the incomes of consumers in the market for diamonds would cause the supply of diamonds to increase
Indicate whether the statement is true or false
If an activity results in a spillover benefit, then in a pure market economy the:
A. quantity produced is too low. B. quantity produced is too high. C. market supply is too high. D. market supply is too low.
One of the benefits of specialization is
A. greater output. B. specialists cost less to hire. C. people enjoy doing one repetitive task over and over. D. training costs are higher.