Answer the following statements true (T) or false (F)
1. Vitruvius’s work was misunderstood in the Renaissance mostly because his drawings were naïve and unclear.
2. Serlio interpreted Vitruvius in light of a contemporaneous interest in perspective.
3. Serlio then set about to discover a way to change scenery, something he perfected with his chariot-and-pole system invented by about 1650.
1. F
2. T
3. F
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How we make economic decisions depends on the values we give to both goods and ideas, which in turn depend on:
A. family B. culture C. geography D. education level
Human speech is produced by the vocal cords and tongue and does involve the pharynx
Indicate whether the statement is true or false
The first scientific attempt to classify humans based on biological variation was by
a. Christopher Columbus. b. the ancient Egyptians. c. J. F. Blumenbach. d. C. Linnaeus. e. Chaka Zulu.
Answer the following statements true (T) or false (F)
1) Only monopolies and dominant firms have market power. 2) When managers of monopolistically competitive firms solve for the profit maximizing quantity, they are determining the market quantity. 3) If a monopolistically competitive firm is producing 4,000 units of output and at this output level, the price is $18 and the average total cost is $8, it is not possible for the firm to be in long-run equilibrium. 4) If a monopolistically competitive firm is producing 2,000 units of output and at this output level, the price is $10 and the average total cost is $10, it is not possible for the firm to be in long-run equilibrium. 5) If a monopolistically competitive firm is producing 6,000 units of output and at this output level, the price is $15 and the average total cost is $15, it is possible for the firm to be in long-run equilibrium.