The proposition that if property rights exist and are enforced, then private transactions are efficient is referred to as the

Suppose this customer is known to throw a fit and scare away other customers if charged high prices. If the shopkeeper moves first, he would ask for

a. A high price b. A low price c. A pony d. All of the above

Minimum-wage laws affect all workers

a. True b. False Indicate whether the statement is true or false