An empty core is more likely if the individuals in a group own highly complementary resources
Indicate whether the statement is true or false
F
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In common value auctions
a. Every bidder know the value of the object being sold b. Each bidder makes their own estimate of the value of the good c. All bidders know the estimates of the others d. The true value of the item differs across bidders
Which economist argued that high tax rates can produce less tax revenues?
a. Robert Ferber b. A. W. Phillips c. Alex Maxwell d. Frantisek Bass e. Arthur Laffer
Which of the following is an example of an intermediate good?
A. A metal-stamping machine used to produce cars sold to an automaker B. A new mobile phone sold to a teenager C. A new car sold to a family D. A new speaker system sold to an automaker for installation in a car
The additional revenue associated with hiring one additional unit of some factor input, such as labor, is called
A) marginal cost. B) marginal revenue product. C) marginal factor cost. D) marginal physical product.