Which statement is true?
A. Most economists support rent control laws.
B. Usury laws and rent control are price ceilings.
C. Usury laws have never had any effect because they are set well above interest rates.
D. None of these choices are true.
B. Usury laws and rent control are price ceilings.
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The figure above represents the relationship between output and cost in an industry with an external cost. When output is at D, what distance represents the marginal external cost?
A) AB B) BC C) CD D) BD E) None of the above answers is correct.
Every point on the joint production possibilities frontier represents
A) an initial endowment. B) inefficient production. C) the marginal rate of substitution of goods for each producer. D) at least one producer specializing in production.