Lizzie's preferences are shown in the figure above. Lizzie is just as happy to have ________ as she is to have ________
A) 4 comic books and 12 cookies; 6 comic books and 12 cookies
B) 2 comic books and 12 cookies; 11 comic books and 8 cookies
C) 2 comic books and 8 cookies; 3 comic books and 5 cookies
D) 4 comic books and 12 cookies; 8 comic books and 8 cookies
D
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The optimal amount of pollution is not zero because
A) it has been found that pollution in moderate amounts actually has positive benefits. B) there are no benefits to anyone from having zero pollution. C) zero pollution would be too costly. D) we don't have the political structure that could accomplish the goal.
The demand for labor is derived from the demand for the goods and services labor can produce.
Answer the following statement true (T) or false (F)
Consider a Stackelberg duopoly with the following inverse demand function: P = 100 ? 2Q1 ? 2Q2. The firms' marginal costs are identical and are given by MCi(Qi) = 2. Based on this information, the follower's reaction function is:
A. rF(QL) = 24.5 ? 0.5QF. B. QF = 49 ? 0.25QL. C. QL = 49 ? 0.5QF. D. rF(QL) = 24.5 ? 0.5QL.
Implicit cooperation among firms to maintain prices is illegal under antitrust laws.
Answer the following statement true (T) or false (F)