In New York City, Mayor Michael Bloomberg has recently recommend that the city, with the help of private donors, make cash payments to poor and underprivileged parents who can certify that their children are attending school on a regular basis
The payments would start after third grade and go through high school, rising each year as dropout rates get higher and a child's forgone earning potential is higher. What economic concept does this policy represent? A) public goods
B) technological progress
C) externalities
D) the "invisible hand"
E) incentives
E
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Along an indifference curve
A) the marginal rate of substitution is constant but not equal to zero. B) the consumer does not prefer one consumption point to another. C) the marginal rate of substitution is equal to 0. D) the consumer prefers some of the consumption points to others.
One difference between oligopoly firms and firms that are monopolistic competitors is that:
a. the average total cost curves of monopolistic competitors are generally u-shaped, but for oligopoly firms they are not. b. monopolistic competitors choose a level of output such that marginal revenue equals marginal cost, but oligopoly firms generally do not. c. monopolistic competitors face lower costs on average than do oligopoly firms. d. the interdependence among firms is highly significant in oligopoly markets, but not in monopolistically competitive markets.