The services of real estate brokers are provided in a competitive market. If the state Board of Realtors enacts several requirements that limit the number of real estate brokers, which of the following is most likely to occur?
A) Consumer surplus will increase.
B) Producer surplus will increase.
C) Entry of new brokers will increase.
D) Social welfare will increase.
B
Economics
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The domestic real interest rate in a small open economy is
A) determined by the intersection of the supply curve and demand curve for loanable funds in the country. B) equal to the world real interest rate. C) the same as its nominal interest rate. D) determined by the total value of net exports in the country.
Economics
If average cost is positive,
A) marginal cost equals average cost. B) marginal cost exceeds average cost. C) marginal cost is less average cost. D) Not enough information is given.
Economics