g Money is best defined as whatever serves society in three functions: medium of exchange, store of value, and unit of account. whatever the government allows money to be. paper bills and coins. Barter is best defined as a situation where two individuals each want some or service that the other can provide. literally trading one good for another without using money. an informal market such as a flea market. A double coincidence of wants is a situation in which money is used to facilitate economic transactions. a situation where two individuals each want some or service that the other can provide. literally trading one good for another without using money.

The economic advisor of a large tire store proposes the demand function d(p)equalsstartfraction 1900 over p minus 40 endfraction , where d(p) is the number of tires of one brand and size that can be sold in one day at price p. answer parts (a) through (e) below. a. recalling that the demand must be positive, what is the domain of this function? the domain consists of all possible values of ▼ for which ▼ p d(p) ▼ does not exist. is positive. is zero. is negative. exists.

1. which one of the following would be an example of a supply-side market failure? a. a gas station is slowly leaking diesel fuel from its underground tanks, and after the leak is discovered, the business immediately cleans up the pollution at its own expense. b. a gas station is slowly leaking diesel fuel from its underground tanks, but the state uses taxpayer money to clean up the pollution rather than requiring the business to pay. c. your business wants to attract repeat customers by putting on a customer-appreciation picnic at a public park, but you decide not to because you couldn't prevent noncustomers from consuming the food and entertainment you provided. d. everyone rushes to the local retail outlet at midnight on the day of the release of a new video game console, and the store runs out before everyone is able to buy one.

In a transportation minimization problem, the negative improvement index associated with a cell indicates that reallocating units to that cell would lower costs.truefalse