Which of the following is not a result if the quantity supplied exceeds the quantity demanded in a market?
A. Deadweight loss
B. Inefficiency
C. Overproduction
D. Shortage
Answer: D
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If movement along a graph causes the value on the vertical axis to rise by 5 units and the value on the horizontal axis to fall by 10 units, the slope of the function is
A. 5 B. ?.5. C. ?2. D. ?72.
Refer to Figure 15.2. The economy is at full employment and the unemployment rate is at the natural rate at point
A) a. B) b. C) c D) d.
The long-run supply curve of a firm is:
A) its marginal cost curve. B) its average total cost curve. C) the portion of its marginal cost curve that lies above its average total cost curve. D) the portion of its marginal cost curve that lies below its average total cost curve.
All normal-form games have at least one dominant strategy
Indicate whether the statement is true or false