A given increase in demand will raise the equilibrium quantity exchanged:
a. unless supply is perfectly inelastic
b. more in the long run than in the short run.
c. in the market for normal goods.
d. all of the above
d
Economics
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When the total external and internal costs of a transaction are taken into consideration, this is known as
A) public costs. B) average total costs. C) social costs. D) marginal costs.
Economics
Choice architecture is the:
A. organization of the context and process in which people make decisions. B. choices that force utility-maximizing decisions for individuals. C. political framework under which policy is made. D. the internal mental framework people use in order to make all their decisions.
Economics