The water and diamond paradox can be explained with the law of diminishing marginal utility and the comparative availability of water and diamonds
Indicate whether the statement is true or false
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Economics
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An increase in fixed cost will, in the short run, alter the industry's output of
a. both a monopolist and a competitive industry. b. only a monopolist. c. only a competitive industry. d. neither a monopolist nor a competitive industry.
Economics
Estimates of the overstatement of cost of living by the CPI suggest the magnitude of the overstatement is roughly
A. 0.1 percentage points. B. 0.3 percentage points. C. 5.0 percentage points. D. 1.0 percentage points.
Economics