Gains from trade will be possible as long as
A) people have different endowments.
B) people place different values on some goods.
C) marginal rates of substitution are equal across individuals.
D) excess supply equals excess demand.
B
Economics
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All of the following aim to reduce income inequality EXCEPT
A) Social Security payments. B) earned income tax credits. C) regressive taxes. D) food stamp programs.
Economics
The price that represents the shutdown point for a perfectly competitive firm is the
a. highest point on the marginal cost curve b. lowest point on the marginal cost curve c. highest point on the average variable cost curve d. lowest point on the average variable cost curve e. lowest point on the average total cost curve
Economics