Indifference curves intersect at the point of utility maximization

What factors make inheritances a source of increased economic inequality?

What will be an ideal response?

Refer to Figure 15-12. If this industry was organized as a perfectly competitive industry, the market output and market price would be

A) output = 83; price = $22. B) output = 62; price = $18. C) output = 62; price = $24. D) output = 104; price = $20.80.