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Some authors are teachers(I) + All teachers are poets(A) ⇒ Some authors are poets. Hence conclusion I follow. All teachers are poets(A) + Some poets are artists(I) ⇒ No conclusion. Hence conclusion II does not follow. All teachers are poets(A) ⇒ Conversion ⇒ Some poets are teachers(I). Hence conclusion III follows.
A Lerner Index of 0 indicates which of the following market conditions?
If factor cost is greater than Market price, then it means that:
Judging from the figure, a person that chooses to consume bundle C is likely to
For which of the following consumption functions, the value of income multiplier, k=4?
The following utility function represents what kind of preferences U(x,y) = x2 + y + 2xy0.5
Employing a lawyer to draft and enforce a private contract between parties wishing to solve an externality problem is an example of a(n) ______________cost
Which of the following is correct?