Transaction costs increase the economic value of an exchange
Indicate whether the statement is true or false
F
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If it costs you $60 to produce 3 widgets and $64 to produce 4 widgets, the marginal cost to you of producing a 4th widget is
A) $62. B) $20. C) $18. D) $6. E) $4.
How might a court use cross elasticity in an antitrust case?
What will be an ideal response?
When an infinite value is placed on human life, policymakers who rely on cost-benefit analysis
a. are forced to pursue any project in which a single human life is saved. b. are likely to make decisions that optimally allocate society's scarce resources. c. would not pursue any public project that would not save human life. d. would be forced to rely on private markets to provide public goods.
Goods that are produced in other countries and then sold domestically are called
A) exports. B) imports. C) tariffs. D) quotas.