A change in a consumer's feelings about the desirability of a good will result in an altered slope of the budget constraint
Indicate whether the statement is true or false
F
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Refer to Scenario 1-3. Had the firm not produced and sold the last 400 t-shirts, would its profit be higher or lower, and if so by how much?
A) Its profit would be $800 higher. B) Its profit would be $4,000 lower. C) Its profit would be $4,800 higher. D) Its profit would be $800 lower.
An important difference between offering prospectus in a public bond issue and the offering memorandum in a private placement is
A) all relevant factual information about the firm and its financing is required in the prospectus but not in the offering memorandum. B) evidence of due diligence is required in the offering memorandum but not in the prospectus. C) the prospectus may not contain any projections about the company's future while an offering memorandum has no such restriction. D) There are no differences between these two documents.
Answer the following statement(s) true (T) or false (F)
1. Producer's surplus is equal to total revenue minus consumer's surplus. 2. The efficiency criterion is normative in nature. 3. According to the efficiency criterion, when a policy creates both winners and losers, it will be preferred to the status quo as long as the winners' gains outweigh the losers' losses. 4. A given level of output is efficient if no more social gain can be obtained from changing the output level. 5. A $5 per unit sales tax is bad for consumers because it implies that the total amount (price plus tax) that they must pay increases by $5.
What is a patent race?
What will be an ideal response?