The golden rule level of capital refers to
A) the level of capital that maximizes output per worker.
B) the level of capital that maximizes the standard of living.
C) the level of capital that maximizes consumption per worker in the steady state.
D) all of the above
E) none of the above
E
Economics
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The larger the number of bidders in an open outcry Dutch auction, ________
A) the lower is the maximum willingness to pay of each bidder B) the smaller is the consumer surplus earned by the winner C) the larger is the quantity offered by the auctioneer for auction D) the lower is the value of the starting bid
Economics
The result for the seller of being able to practice price discrimination will be
A) higher profits. B) lower demand elasticity. C) lower quantity sold. D) cost minimization.
Economics