If an economic change lowers the production cost of a commodity but does not reduce its market price, economic value will be created
Indicate whether the statement is true or false
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Economics
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Pay-per-view broadcasts are ________
A) public goods B) private goods C) club goods D) common pool resources
Economics
When price is less than the firms' minimum average total cost, ________
A) new firms will enter the market B) existing firms will leave the market C) prices are likely to fall further D) firms' profits are likely to be maximum
Economics
To two hunters, a deer running in a forest is
A) nonrival and nonexcludable. B) nonrival and excludable. C) rival and nonexcludable. D) rival and excludable.
Economics
If the CPI was 102.4 in Year 1 and was 105.7 for Year 2, then the rate of inflation between Year 1 and Year 2 was:
(a) 2.2%. (b) 3.2%. (c) 4.2%. (d) We need more information to calculate it.
Economics