The Case in Point on the Simpsons indicated that even fictional characters face:
A) diminishing marginal product.
B) opportunity costs.
C) the fallacy of false cause.
D) positive statements.
Ans: B) opportunity costs.
Economics
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When considering rent seeking, which of the following is TRUE?
A) The anti-free trade group generally will lobby more than the pro-free trade group. B) The pro-free trade group generally will lobby more than the anti-free trade group. C) Usually only the anti-free trade group is concerned about what is best for society at large. D) Only the pro-free trade group is concerned about the government's revenue from tariffs.
Economics
Refer to Figure 4-6. What area represents producer surplus at P2?
A) A + B + D B) B + D + G C) B + C + D + E D) B + D
Economics