Capital formation is a key component of economic growth
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The Wii is a wildly popular home video game console released by Nintendo. The Wii system was first available in the U.S. in November, 2006 and has sold more than 30 million units as of August 2010. The Wii retails for $199
Suppose Ahmed is willing to pay $230, Lana is willing to pay $175, and Bodie is willing to pay $300 for a Wii. What is the value of Lana's consumer surplus? A) No consumer surplus is generated because Lana will not buy the Wii. B) $249 C) $225 D) $24
Economics
A firm that is the only seller of a good with no close substitutes is a(n)
A) perfect competitor. B) monopolistic competitor. C) oligopolist. D) monopolist.
Economics