________ is a good measure of what society gives up by using resources to produce more of a good or service.
A. Marginal cost
B. Marginal revenue
C. Marginal revenue product
D. Total cost of production
Answer: A
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If there are four firms in a market and one has a 40 percent market share, one has a 25 percent market share, one has a 20 percent market share, and one has a 15 percent market share, the Herfindahl-Hirschman Index (HHI) in this market is ________.
A) 2,850 B) 5,250 C) 1,270 D) 8,250
A fact based on observable phenomenon that is not influenced by differences in personal opinion is called
a. an objective concept. b. a subjective concept. c. an unintended consequence. d. ceteris paribus.
What is a barter economy? What are its major drawbacks?
Which of the following is true concerning interest rates on bonds?
a. The tax treatment of interest earned on municipals bonds makes the interest rate on them higher than otherwise. High default risk makes the interest rate on a bond higher than otherwise. b. The tax treatment of interest earned on municipals bonds makes the interest rate on them higher than otherwise. High default risk makes the interest rate on a bond lower than otherwise. c. The tax treatment of interest earned on municipals bonds makes the interest rate on them lower than otherwise. High default risk makes the interest rate on a bond higher than otherwise. d. The tax treatment of interest earned on municipals bonds makes the interest rate on them lower than otherwise. High default risk makes the interest rate on a bond lower than otherwise.