An economy is producing efficiently when all factors of production are used in their most productive capacity
Indicate whether the statement is true or false
T
Economics
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If prices of both horizontal and vertical goods decrease by 50%,
A) budget constraint will be unchanged. B) slope of the budget constraint will increase. C) slope of the budget constraint will decrease. D) budget constraint will shift outward in a parallel fashion.
Economics
Explain why it is unwise to bid more than your valuation of the good in a sealed bid second-price auction
What will be an ideal response?
Economics