Production points inside the PPF are
A) efficient but not attainable.
B) efficient and attainable.
C) inefficient and not attainable.
D) inefficient and attainable.
D
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What is the drawback of forcing a natural monopolist to use a marginal cost pricing rule?
A) No deadweight loss is eliminated. B) The firm will incur an economic loss. C) The gain in consumer surplus will be less than the loss in producer surplus, thus creating additional deadweight loss. D) None of the above answers is correct.
Table 7-1 Workers Toys1 5212322430535? ? ? In Table 7-1, the marginal physical product begins to diminish with the addition of the
A. second worker. B. third worker. C. fourth worker. D. Marginal returns never diminish in Table 7-1.
"Stagflation" refers to the unwelcome combination of
a. inflation and rising prices. b. deflation and unemployment. c. inflation and unemployment. d. inflation and expansion.
What is influenced by the substitution effect?
a. marginal resource cost b. marginal revenue productivity c. individual labor supply curve d. downward sloping demand curve