When UPS implemented changes which allowed it to deliver more packages with the same number of workers and planes, this represented a positive technological change
Indicate whether the statement is true or false
TRUE
You might also like to view...
When you hire a company to paint your house, you cannot be sure of the quality of paint that was used. This situation is an example of
a. moral hazard. b. the adverse selection problem. c. the market for lemons. d. the principal-agent problem.
Relative to a perfectly competitive market, a monopoly results in
A) a gain in producer surplus equal to the gain in consumer surplus. B) a gain in producer surplus equal to the loss in consumer surplus. C) greater economic efficiency. D) a gain in producer surplus less than the loss in consumer surplus.
Critics of government frequently assert that special interest groups favor transfer policies rather than economic growth policies.
Answer the following statement true (T) or false (F)
The long run is a period long enough so that one of the firm’s commitments ends.
Answer the following statement true (T) or false (F)