Positive economics
What will be an ideal response?
Economic statements that can be proven or disproven
Economics
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The U.S. imposed high tariffs in the early nineteenth century in retaliation for British tariffs imposed on American goods
Indicate whether the statement is true or false
Economics
The easiest way to have a monopoly today is
A. with a strong business plan. B. to have the government protect you. C. to be in a socialistic country. D. to own everything in your market.
Economics
In the above figure, what would be the profit-maximizing output and price for this natural monopolist?
A. 1,200; $3 B. 700; $7 C. 900; $7 D. 700; $10
Economics
If TR equals TC, the a firm
A. earns a profit of $0. B. suffers a loss. C. earns a positive profit. D. shuts down.
Economics