The break-even quantity is
a. 1250
b. 625
c. 416.67
d. 500
a
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Refer to Table 7-6. Which country has a comparative advantage in producing swords?
A) Estonia B) Morocco C) both countries D) neither country
Which of the following statements is true?
A. When production of a good yields positive externalities but output is currently at the market level, then a change in output to the socially optimal level will certainly be for the worse. B. When production of a good yields negative externalities but output is currently at the market level, then a change in output to the socially optimal level will cause benefits to increase by an amount greater than costs will increase. C. When production of a good yields positive externalities but output is currently at the market level, then a change in output to the socially optimal level will cause benefits to increase by an amount less than costs will increase. D. a, b, and c E. none of the above
John Rawls' theory of justice does not take into account the disincentive effects of redistributive programs
a. True b. False
The cost-output elasticity equals 1.4. This implies that:
A) there are neither economies nor diseconomies of scale. B) there are economies of scale. C) there are diseconomies of scale. D) marginal cost is less than average cost.