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1. The central coordination problems are focused primarily around the distribution of goods only, not the production of goods.
True
False
2. Production possibility curves are generally bowed outward because marginal opportunity costs generally increase as more of an activity is undertaken.
Long-run supply curve in a constant-cost industry is linear and shut down because it will no longer be earning a normal pro?t.
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How would you know demand has increased? (What is the first piece of information which would lead you to conclude that demand has increased?)
if governments know that increases in the money supply lead to inflation why do some countries increase the money
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Describe why it would cost Andre Agassi or Venus Williams more to leave professional tennis tour and open the tennis shop than it would for the coach of the univeristy tennis team to do so.
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