There is evidence to suggest that slaves were commonly sold and families were often separated
Indicate whether the statement is true or false
True
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Because suppliers can more readily adjust their output in the long run than in the short run, we expect price elasticity of supply to be
a. negative in the long run and positive in the short run b. positive in the long run and negative in the short run c. greater than one in the short run and less than one in the long run d. higher in the long run than in the short run e. higher in the short run than in the long run
Define producer surplus. Using a graph, illustrate producer surplus for a firm with an avoidable fixed cost. Why is it convenient to focus on producer surplus when analyzing policy changes?
What will be an ideal response?
Excise taxes are a form of sales tax.
Answer the following statement true (T) or false (F)
A productivity decrease would be illustrated by a shift in the production function
A. downward. B. leftward. C. upward. D. rightward.