Housing assistance is obtained by all these below the poverty line
Indicate whether the statement is true or false
F
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Under conditions of monopolistic competition, a firm maximizes profits where
a. MR equals AR. b. MR equals AVC. c. AR equals ATC. d. MR equals MC.
If the first four units of a good consumed have marginal utilities of 8, 4, 2, and 1, respectively, this trend is an indication of the:
a. law of consumer equilibrium. b. law of diminishing marginal utility. c. law of diminishing consumer surplus. d. law of supply.
Assets that can be converted to cash in one year or less are known as
a. hard assets b. current assets c. fixed assets d. liabilities e. current liabilities
Laissez-faire capitalism is characterized by:
A. Very limited government role in the economy B. Active government intervention in the economy C. Individuals and firms abiding by a government economic plan D. A very fair distribution of income and wealth