Comparative advantage is
A) the ability to perform an activity at a lower opportunity cost than anyone else.
B) the ability to perform an activity at a higher opportunity cost than anyone else.
C) the ability to perform an activity at a zero opportunity cost.
D) another name for absolute advantage.
A
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If the premerger Herfindahl index is less than 1,000 . the Department of Justice is likely to challenge a merger
a. True b. False
During one winter quarter at Frozen U., snow falls every Friday night. Students assume that, on their campus, Fridays cause snow. This hypothesis
a. should more properly be considered a theory. b. assumes that correlation implies causation. c. assumes that causation implies correlation. d. reflects the fallacy of composition.
In which of the following ways is the demand curve different in graph a and graph b
a. In graph a, its horizontal; in graph b, its upward sloping.
b. In graph a, it touches the minimum point of the ATC curve; in graph b it misses this point.
c. In graph a, it equals P; in graph b, it equals MC.
d. In graph a, it intersects the MC curve; in graph b, it misses the MC curve.
Your textbook mentions four arguments against government intervention to reduce inequality. List any three of these.
What will be an ideal response?