Is coal a produced factor of production?
No. Coal is a natural resource, and natural resources are not classified as produced factors of production.
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Which of the following statements is true?
a. Antitrust policies are government policies designed to reduce the profitability of a monopoly and push production closer to the social optimum. b. Antitrust laws can promote greater competition. c. Average cost pricing sets price equal to marginal cost, where the demand curve intersects the marginal cost curve. d. Both antitrust policies are government policies designed to reduce the profitability of a monopoly and push production closer to the social optimum and antitrust laws can promote greater competition are true.
Which of the following would shift the demand curve for gasoline to the right?
a. a decrease in the price of gasoline b. an increase in consumer income, assuming gasoline is a normal good c. an increase in the price of cars, a complement for gasoline d. a decrease in the expected future price of gasoline