One side effect of the increased speed with which used books circulate is
A. used books are more expensive.
B. new editions come out less frequently.
C. new editions come out more frequently.
D. used books are cheaper.
Answer: C
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Treasury bonds typically have lower coupon rates than corporate bonds because
A. There is a lower risk that the U.S. Treasury will default. B. The U.S. Treasury does not earn profits. C. Government regulations keep interest rates on Treasury bonds below market rates. D. The opportunity cost of purchasing Treasury bonds is lower than the opportunity cost of buying corporate bonds.
Italy has a comparative advantage in which product?
At the profit-maximizing level of output, a monopolist will always operate where:
A. average total cost equals marginal cost. B. price is greater than average revenue. C. price is greater than marginal cost. D. total revenue is greater than total cost.
Figure 4.3 illustrates the demand for tacos. Assume that tacos are inferior goods. An increase in income would bring about a movement from:
A. point a to point b. B. point c to point b. C. D2 to D1. D. D0 to D1.