A tax placed on a good can make that good relatively more expensive and its substitutes relatively less expensive
Indicate whether the statement is true or false
True
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A firm will increase its production when
a. its marginal revenue rises. b. its marginal cost rises. c. its fixed costs fall. d. the demand for its product falls.
Which of the following statements is TRUE?
A) The long-run aggregate supply curve is vertical. B) The short-run aggregate supply curve is vertical. C) The long-run aggregate demand curve is upward sloping. D) The long-run aggregate supply curve is upward sloping.
When people make decisions about the quantity of education to undertake, they balance the marginal social benefit against the marginal private cost
Indicate whether the statement is true or false
Which of the following contributed to the increase in steamboat productivity?
(a) Improvements in ship design (b) Better docking stations (c) Increased competition by railroads (d) All of the above