Markets can be missing:
A. because a market is taxed.
B. when the sale of a particular service is banned.
C. when miscommunication of information between buyers and sellers leads to the wrong equilibrium price.
D. All of these are true.
D. All of these are true.
Economics
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Which of the following are implicit costs for a typical firm?
A) opportunity costs of capital owned and used by the firm B) the cost of labor hired by the firm C) utilities cost D) a business licensing fee
Economics
Figure 9-1
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In Figure 9-1,
A. the 45° line represents all points where spending equals output. B. to the left of equilibrium GDP, inventories will rise. C. to the right of equilibrium GDP, inventories will fall. D. the level of equilibrium GDP equals potential GDP.
Economics