A true signal must
A) convey information only.
B) convey information and direct the resource owners to act appropriately.
C) convey information about the long-run future.
D) explain in detail why something should be done.
B
Economics
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What is the difference between positive and normative statements?
What will be an ideal response?
Economics
Compared to a perfectly competitive industry, a single-price monopoly produces
A) more output. B) less output. C) the same output. D) some amount that might be more, less, or the same depending on whether the monopoly's marginal revenue curve lies above, below, or on its demand curve. E) some amount that might be more, less, or the same depending on whether the monopoly's marginal cost curve lies above, below, or on its marginal revenue curve.
Economics