If a consumer prefers Apples to Bananas and prefers Bananas to Citrus Fruit, in order to satisfy assumptions about preferences, she has to prefer
A) Bananas to Apples.
B) Citrus Fruit to Bananas.
C) Apples to Citrus Fruit.
D) Citrus Fruit to Apples.
C
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The short run is that period in which firms: a. are free to vary all inputs
b. are able to vary some, but not all, inputs. c. can vary inputs, but only by varying all of their inputs in equal proportion. d. cannot increase production at all.
Which of the following is a positive economic statement?
a. Government control of rent is a fair way to help poor people afford housing. b. Government control of rent keeps landlords from charging too much rent. c. Government control of rent decreases the number of new apartments constructed. d. Government control of rent is an injustice.
A decrease in the expected future price of a good will cause the current demand for the good to...
What will be an ideal response?
How is productivity tied to standard of living?
What will be an ideal response?