The shift of the budget line from cd to ab in the figure is consistent with:
A. decreases in the prices of both M and N.
B. an increase in the price of M and a decrease in the price of N.
C. a decrease in money income.
D. an increase in money income.
C. a decrease in money income.
Economics
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Which of the following is omitted in the calculation of GDP?
A) Pension paid to retired workers B) Export of goods C) Capital depreciation D) Interest paid on bank deposits
Economics
When used with a natural monopoly, an average cost pricing rule results in
A) the efficient level of output. B) economic losses for the firm. C) the need for government to subsidize the natural monopoly. D) zero economic profit for the firm. E) the firm making an economic profit.
Economics