The factory conditions of 19th century England that Karl Marx described may be found in his book, _______.
Fill in the blank(s) with the appropriate word(s).
Das Kapital
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Use the following graph for a perfectly competitive firm generating a loss in the short run to answer the next question.
Which of the following market changes would allow the firm to earn an economic profit?
A. an increase in the number of firms entering the industry B. a decrease in market demand C. a decrease in the price of the industry's product D. an increase in market demand
Which of the following resources will a producer demand another unit of so long as the additional unit's marginal revenue exceeds its marginal cost?
a. labor b. capital c. natural resources d. entrepreneurial ability e. All of the answers are correct.
Which of the following are policies that can affect natural unemployment?
a. adjust interest rates b. provide welfare assistance c. adjust availability of money and loans d. increase aggregate demand
A firm that produces a good with many substitutes will most likely find that:
A. lowering its price will increase total revenue. B. raising its price will increase total revenue. C. lowering its price will decrease total revenue. D. lowering its price will not affect total revenue.