An export subsidy imposed in a large exporting country will cause the country's international terms of trade to improve.
Answer the following statement true (T) or false (F)
False
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In monopolistic competition, there are ________
A) many firms selling products for which no good substitutes exist B) many firms selling similar but slightly different products C) many firms, each selling an identical product D) a small number of firms, each selling an identical product
A negative income tax program provides a simple way to assist the unemployed
a. True b. False Indicate whether the statement is true or false
High Tech, Inc. produces plastic chairs that sell for $10 each. The following table provides information about how many plastic chairs can be produced per hour. Number of WorkersChairs Produced Per Hour00110218324428530 For simplicity, assume that labor is the only input. How many workers will be hired if the hourly wage for workers is $70?
A. 3 B. 2 C. 4 D. 1
What is the law of diminishing marginal product?
What will be an ideal response?