The state of Georgia offers free college tuition to high school students with a "B" average. In 2007, the state raised the requirement so that fewer students qualified for the scholarship
At the same time, Georgia increased state spending on health care. Suppose that college education is on the vertical axis and health care is on the horizontal axis of a PPF. These changes A) are example of a tradeoff.
B) are an example of incentives.
C) will cause a shift out of the PPF.
D) will cause a shift in the of the PPF.
A
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Andrew Carnegie is most recognized for:
a. being the first manufacturer to utilize the assembly line in large-scale production. b. being a leader in the steel industry. c. helping implement many of FDR's New Deal policies. d. being a prominent Civil War general.
In a monopolistically competitive market, the seller maximizes profits by
A. setting P = ATC. B. setting price where P = MC. C. setting MC = ATC. D. setting price where MR = MC.