Which of the following statements is NOT an assumption underlying the production possibilities curve?
A) Resources are fully and efficiently employed.
B) Technology is fixed.
C) Production occurs over some specified time period.
D) The amount of resources available for production can be changed quickly.
D
Economics
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All central banks are controlled by government
Indicate whether the statement is true or false
Economics
The market demand curve for a popular teen magazine is given by Q = 80 - 10P where P is the magazine price in dollars per issue and Q is the weekly magazine circulation in units of 10,000
If the circulation is 400,000 per week at the current price, what is the consumer surplus for a teen reader with maximum willingness to pay of $3 per issue? A) $2.00 B) $1.00 C) Zero D) -$1.00
Economics