Which of the following varies along a given demand curve?
a. consumer preferences
b. prices of substitutes
c. prices of complements
d. the price of the good itself
e. income
D
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The cost of producing an additional unit of a good or service that falls on people other than the producer is the marginal
A) external cost. B) private cost. C) social cost. D) social benefit. E) None of the above answers is correct.
Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.
The free-rider problem makes a good profitable to provide by a private firm.
Answer the following statement true (T) or false (F)
Profits when a competitive firm shuts down are -$7,250 and profits are -$250 when the firm continues to produce. This firm will minimize losses by
a.shutting down b.continuing to produce c.either shutting down or continuing to produce d.decreasing production