A movement of the price index from 108 to 112 represents an improvement in the cost of living
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Given demand, the price is found where
A) consumer surplus is maximized. B) average costs equal price. C) price equals marginal revenue. D) marginal revenue equals marginal cost.
Economics
A government-imposed price ceiling has what effect on efficiency?
A. Consumer and producer surplus increases. B. Producer surplus increases. C. There is little dead weight loss. D. Consumer surplus increases.
Economics