Referring to a production possibilities curve and the goods being compared, depict the economic event. Computerization in the 1990s launched thousands of new businesses in the United States (capital goods vs. consumer goods).
A. A movement from a point inside the curve to a point on the curve
B. A movement from a point on the curve to a point inside the curve
C. A shift in the entire curve to the right (outward)
D. A shift in the entire curve to the left (inward)
C. A shift in the entire curve to the right (outward)
Economics
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What is meant by the term "internalizing an externality"? How does a Pigovian tax or subsidy internalize an externality?
What will be an ideal response?
Economics
In the ________, each firm treats the output of its competitor as fixed and then decides how much to produce
A) Cournot model B) model of monopolistic competition C) Stackelberg model D) kinked-demand model E) none of the above
Economics