To consider the full cost of your college education, you should also consider the cost of missing out on your next best alternative
Indicate whether the statement is true or false
true
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Command-and-control regulation, as compared to incentive-based regulation, is:
a. efficient in the short run and in the long run. b. efficient in the short run, but not in the long run. c. inefficient in the short run, but efficient in the long run. d. inefficient in the short run and long run.
William is a wheat farmer and wheat sells in a perfectly competitive market, with an equilibrium price of $5 per bushel. Its marginal revenue: a. is greater than $5
b. is $5. c. is less than $5. d. cannot be determined from the above information.
The supply of labor to a particular market is the horizontal sum of all the individual supply curves
Indicate whether the statement is true or false
Suppose Puerto Rico and Hawaii currently have the same production possibilities so that the above figure is the PPF for hotels and consumption goods in the two areas
Hotels are a capital good that,once built, will help produce still more consumption goods. If Puerto Rico produces more hotels than Hawaii, A) Hawaii's PPF will shift outward further than Puerto Rico's PPF. B) Hawaii's PPF will shift inward. C) Puerto Rico's PPF will not shift. D) Puerto Rico's PPF will shift outward further than Hawaii's PPF. E) Puerto Rico's and Hawaii's PPF will shift outward by the same amount.