Halibut tends to be much more expensive than cod. According to the economic way of thinking, relatively high halibut prices can be explained by
A) using the theory of supply and demand.
B) pointing out the cause—Halibut boats are often more expensive than boats used to fish for cod.
C) acknowledging the price differential is unfair to consumers of halibut.
D) acknowledging the price differential is unfair to cod fishermen.
A
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then the T-account effects are that the bank's assets and liabilities ________ by $1 million and that the Fed's assets and liabilities ________ by $1 million. A) decline; decline B) increase; decline C) decline; increase D) increase; increase
The graph of average fixed cost is a horizontal line
a. True b. False