When the transactions costs involved in putting a project together exceed the difference in the value of land with the project completed and the value of the land without the project, the project should be undertaken

A central bank has ________ chance to identify a credit-driven bubble compared to an irrational exuberance bubble

A) a greater B) less of a C) about the same level of a D) a greater, less or about the same level of a

Many gift shops along the ocean shut down during the winter because

a. revenues cannot cover fixed costs b. marginal revenue does not equal marginal cost c. costs are minimized by shutting down d. revenues are maximized by shutting down e. revenues cannot cover variable costs