The combination of personal computers and televisions shown in the figure above by point W
A) is an efficient use of society’s resources because it is below the production possibilities curve.
B) is more desirable than point X because producing at point W does not put a strain on society’s resources.
C) is attainable but involves the inefficient use of some of society’s resources.
D) is beyond the capacity of society to produce.
C) is attainable but involves the inefficient use of some of society’s resources.
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Refer to Figure 15-1. In the figure above, the money demand curve would move from Money demand1 to Money demand2 if
A) the price level increased. B) real GDP decreased. C) the interest rate decreased. D) the Federal Reserve sold Treasury securities.
When firms in a perfectly competitive market face the same costs, in the long run they must be operating
a. under diseconomies of scale. b. with small, but positive, levels of profit. c. at their efficient scale. d. where price is equal to average fixed cost.
Which of the following questions about predatory pricing remains unresolved?
a. Are the courts capable of determining which price cuts are competitive and which are predatory? b. Are the courts capable of determining which price cuts are good for consumers? c. Is predatory pricing ever a profitable business strategy? d. All of the above questions about predatory pricing are unresolved.
Angelee works for a major corporation overseeing quality control, and she earns $50,000 per year. She uses about ten percent of her pay to purchase household items, such as appliances, and spends another two percent on travel. She buys stock with about five percent of her pay. Explain which of her actions are part of the factor market and why?
What will be an ideal response?