Saving is
a. helpful for production but not necessary
b. not useful for production because they imply a decrease in consumption
c. required for production
d. not useful for production because it is not a resource
e. not useful for production because savers must be paid interest
C
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In the above figure, CBL is the cost of breaking the law. If it is illegal to sell, but not illegal to buy, then the price per unit will be
A) $500. B) $400. C) $300. D) $200.
Setting a fair price means
a. c and e b. lowering the price until the monopolist says "unfair" c. pricing at the point where average fixed and average variable costs sum to the price d. imposing unreasonable restrictions on the price making capability of competitive firms e. pricing as if the market were actually competitive