Question

In: Economics

. Determine if the following claims are true or false (or argue that they can be...

. Determine if the following claims are true or false (or argue that they can be sometimes true and sometimes false). justify each answer you give with at most three sentences.

(a) When choosing the optimal amount of time to study for an exam, students with a higher marginal rate of transformation (i.e. students that get more points per each additional hour of study)should always devote more time to studying.

(b) If England has comparative advantage in the production of cloth and Portugal has comparative advantage in the production of wine, then England should always specialize in cloth production and Portugal should always specialize in wine production.

(c) If the total revenue of a monopolist firm is the same for all prices, then the demand for its product is inelastic

. (d) In a competitive market, the marginal cost of all firms is the same and as a result, the firms earn equal profits.

(e) If an outcome is Pareto-efficient, then there is no alternative outcome that is more desirable for the society.

(f) If the supply of a good in the world market is inelastic, then charging an import tariff imposes no deadweight losses.

(g) If consumers in a country benefit from joining a free trade agreement, then producers in the country are hurt by the agreement.

Solutions

Expert Solution


Related Solutions

True or False Determine if the following statements are true or false. _____ 1. A liquid...
True or False Determine if the following statements are true or false. _____ 1. A liquid takes the volume of its container. _____ 2. Particles of amorphous solids have no definite pattern. _____ 3. A beef steak is an example of a crystalline solid. _____ 4. Viscosity causes water to curve upward at the top rim of a glass. _____ 5. There is more gas than any other state of matter in the universe. _____ 6. All states of matter...
4. Indicate whether the following propositions are true or false and argue the reasons: a. A...
4. Indicate whether the following propositions are true or false and argue the reasons: a. A body on which various forces act, the resultant of which is different from zero, remains at rest. b. A body that has no acceleration is not subjected to any force. c. If the speed of a body is zero at a given instant, it is because the resultant of all the forces acting on it is zero at that instant. d. The speed of...
Answer the following true & false questions: The count property can be used to determine the...
Answer the following true & false questions: The count property can be used to determine the number of elements contained in an array. True False The Navigator object is commonly used to determine which type of Web browser is running. True False Since a browser window never displays more than one document object at one time, you can shorten references to objects contained within a document by omitting the word window from the object path. True False The setInterval( )...
Determine if the following statements are true/false If the statement is false, either correct it or...
Determine if the following statements are true/false If the statement is false, either correct it or briefly explain why it is false. ________ The correlation coefficient indicates the change in y associated with a unit change in x. ________To conduct a valid regression analysis, both x and y must be approximately normally distributed. ________ All data points will fit the regression line exactly if the sample correlation is either +1 or −1. _________ If r > 0, then as x...
1. Determine each of the following is true or false? If false, provide a counterexample. (a)...
1. Determine each of the following is true or false? If false, provide a counterexample. (a) Let X be a continuous random variable which has the pdf fX. Then, for each x, 0 ≤ fX(x) ≤ 1. (b) Any two independent random variables have ρXY = 0. (c) Let X and Y be random variables such that E[XY ] = E[X]E[Y ]. Then, X and Y are independent. 2. Ann plays a game with Bob. Ann draws a number X1...
Determine whether each of the following statements is true or false. If the statement is false,...
Determine whether each of the following statements is true or false. If the statement is false, modify and rewrite it so that it is a true statement. a. When a molecule has two, degenerate, “infrared active”, vibrational modes, the two vibrational modes will show absorptions at different frequencies in the infrared spectrum. b. For a given substance, strong intermolecular forces between molecules of the substance can cause peak broadening of some of the absorptions in the infrared spectrum of the...
True or false: For each of the statements, determine whether it is true or false, then...
True or false: For each of the statements, determine whether it is true or false, then explain in a few sentences why that is the answer. Note: no marks will be given for answers that do not include an explanation. 1. If money stops being a reliable store of value, then it ceases to be useful as a medium of exchange. 2. The gold standard is an improvement over actual gold coinage because it allows the government/central bank to control...
True or False questions. Determine whether or not each of the following statements is true. If...
True or False questions. Determine whether or not each of the following statements is true. If a statement is true, prove it. If the statement is false, provide a counterexample and explain how it constitutes a counterexample. Diagrams can be useful in explaining such things. a) If the electric potential in a certain region of space is constant, then the charge enclosed by any closed surface completely contained within that region is zero. b) A sphere of radius R is...
True or False questions. Determine whether or not each of the following statements is true. If...
True or False questions. Determine whether or not each of the following statements is true. If a statement is true, prove it. If the statement is false, provide a counterexample and explain how it constitutes a counterexample. Diagrams can be useful in explaining such things. 1. A sphere of radius R is centered at the origin. A total charge Q is uniformly distributed throughout its interior. A ball of radius R/2 centered at the the origin is carved out and...
1. Determine if the following statements are true or false. If a statement is true, prove...
1. Determine if the following statements are true or false. If a statement is true, prove it in general, If a statement is false, provide a specific counterexample. Let V and W be finite-dimensional vector spaces over field F, and let φ: V → W be a linear transformation. A) If φ is injective, then dim(V) ≤ dim(W). B) If dim(V) ≤ dim(W), then φ is injective. C) If φ is surjective, then dim(V) ≥ dim(W). D) If dim(V) ≥...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT