A positive technological change will cause the quantity of a good supplied to increase

Indicate whether the statement is true or false


FALSE

Economics

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A chemical factory and a fishing club share a lake. Producing chemicals creates water pollution that harms the fish. Initially the lake is owned by no one

Keeping in mind the Coase theorem, suppose transactions costs are low and the fishing club is given ownership of the lake. Compared to the situation with no property rights, the quantity of chemicals produced A) will decrease. B) will stay the same. C) will increase. D) changes, but the direction of the change is ambiguous.

Economics

Which of the following statements is false?

A) Anytime you have to decide which action to take you are facing an economic trade-off. B) Every individual, no matter how rich or poor, is faced with making trade-offs. C) Trade-offs do not apply when the consumers purchase a product for which there is excess supply, such as a stock clearance sale. D) Economics is a social science that studies the trade-offs we are forced to make because of scarcity.

Economics

The figure above represents the demand and cost functions facing a Brazilian Steel producing monopolist. The Brazilian firm is charging its foreign (U.S.) customers one half the price it is charging its domestic customers

Is this good or bad for the real income or economic welfare of the United States? Is the Brazilian firm engaged in dumping? Is this predatory behavior on the part of the Brazilian steel company?

Economics

Sharecropping after the Civil War (1861–1865) was the land tenure of black and white non-landowning farmers in about equal proportions

Indicate whether the statement is true or false

Economics