A private closed economy includes:
A. households, businesses, and government, but not international trade.
B. households, businesses, and international trade, but not government.
C. households and businesses, but not government or international trade.
D. households only.
C. households and businesses, but not government or international trade.
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How does the decreasing use of DVD players affect the market for prerecorded DVDs?
A) The demand curve for prerecorded DVDs shifts to the left. B) The quantity of prerecorded DVDs demanded decreases. C) The quantity of prerecorded DVDs demanded increases. D) The demand curve for prerecorded DVDs shifts to the right.
The marginal cost curve is U-shaped because of the law of increasing opportunity costs
Indicate whether the statement is true or false