Instead of throwing away a worn-out pair of jeans, a cowboy trades them in for $12 . The jeans are resold for $45 to someone who likes to project a rugged image. These transactions are Pareto improvements

The key financial institutions in the United States include all of the following EXCEPT

A) the U.S. Treasury B) the Federal Reserve C) commercial banks, pension funds, and insurance companies D) government-sponsored mortgage lenders

Engineers for The Giffen Record Company have determined that a 35% increase in all compact disc inputs will cause a 45% increase in output. Assuming that input prices remain constant, you correctly deduce that such a change will cause ________ as output increases.

A. average costs to increase B. average costs to remain constant C. average costs to decrease D. marginal costs to increase