A key assumption of most economic analysis is that people are altruistic, meaning that they act in their own self-interest.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Refer to Table 4-13. The equations above describe the demand and supply for Aunt Maud's Premium Hand Lotion. The equilibrium price and quantity for Aunt Maud's lotion are $20 and 30 thousand units
What is the value of economic surplus in this market? A) $600 thousand B) $1,050 thousand C) $1,500 thousand D) $2,100 thousand
If your business earns $10,000 in revenues, has explicit costs of $7,000, and implicit costs of $5,000, your economic profit is
A) $2,000. B) -$2,000. C) $5,000. D) $3,000.
A firm increases output from 2 to 4 units per week. As it does its total costs rise from €1200 to €1500, while its fixed costs remain constant at €800. The firms MC is:
a) €100 b) €150 c) €300 d) zero
When the nominal exchange changes from 110 yen per dollar to 120 yen per dollar, the dollar has:
A. depreciated. B. become overvalued. C. become undervalued. D. appreciated.