Shadow prices represent
A) the value of one additional unit of a basic variable.
B) the value of one less unit of a basic variable.
C) the value of one less unit of a specific resource.
D) the value of one additional unit of a specific resource.
E) None of the above
D
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The Statutes at Large:
a. are a topical organization of statutory law. b. are a chronological organization of statutory law. c. is another name for code. d. are easily used by legal researchers. e. Both b and c
Bob and Ray own a vacation home as joint tenants with each having 50 percent ownership. Ray
then sells his 50 percent to Steven without Bob's knowledge. Two weeks later Steven dies unexpectedly. Which of the following is true? A) Steven never got half the property because Ray's attempted sale was ineffective since it was made without Bob's knowledge. B) Steven's share of the property goes to Bob. C) Steven's share of the property passes according to the terms of Steven's will. D) Steven's share of the property goes back to Ray.