Some products of the knowledge economy
A) have an initial marginal cost that is very low and then rises.
B) have no marginal costs.
C) have an initial marginal cost that is very high and then falls to zero.
D) none of these choices.
C
Economics
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If income increases and the demand for bus rides decreases,
A) bus rides are a normal good. B) consumers are behaving irrationally. C) bus rides are an inferior good. D) bus rides are a substitute good. E) bus rides must be a complement good with some other good.
Economics
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Economics