Factors of production are traded in the product market.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In practice, taxes on emissions of pollutants have been found to
A. be ineffective in encouraging firms to pollute less. B. significantly reduce pollution by taxed firms. C. be less reliable in reducing pollution than direct controls on pollution. D. cause failures of the pricing system.
Is demand for electricity more price elastic when measured over a short period of time or a long period of time? Explain.
What will be an ideal response?
Michael loves donuts. He receives 100 units of utility for the first donut, an additional 80 for the second, an additional 60 for the third, another 50 for the fourth, and another 20 for the fifth. The marginal utility of the fourth donut is ________ and the total utility from consuming four donuts is ________.
A. 140; 290 B. 50; 40 C. 50; 290 D. 290; 100
Which of the following is an example of implicit collusion?
A) product differentiation B) a retaliation strategy C) a second-price auction D) price leadership