In a competitive market,
a. demand will always reflect all spillover costs
b. demand will always reflect all spillover benefits.
c. supply will always reflect all spillover costs.
d. none of the above are true.
d
Economics
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When tariffs on imports are eliminated, everyone benefits.
Answer the following statement true (T) or false (F)
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In what ways can expectations change your demand for a product today?
What will be an ideal response?
Economics
Consider the demand curve of the form Q = a - bP. If a is a positive real number, and b = 0, then demand is
A) completely inelastic. B) inelastic, but not completely. C) unit elastic. D) elastic, but not infinitely.
Economics
If a society's unemployment rate rises from 5 percent to 8 percent, the result will be a leftward shift of the society's PPF.
Indicate wheher the statement is true or false.
Economics