If the first worker produces ten custom picture frames a day, and the second worker produces twelve additional custom picture frames a day, then diminishing marginal returns have not yet set in.
Answer the following statement true (T) or false (F)
True
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When an immigrant sends a remittance from his host country to his family in his home country, the benefits of immigration to the:
A. Home and host country are increased B. Home and host country are decreased C. Host country are increased, but decreased to the home country D. Host country are decreased, but increased to the home country
Usually the removal of trade barriers affecting a particular good benefits ________ people domestically, each of whom gains a ________
A) a few; little B) a few; lot C) many; little D) many; lot
Refer to Figure 4-3. If the market price is $4.00, what is the maximum number of ice cream cones that Kendra will buy?
A) 0 B) 2 C) 3 D) 4
Compared to the equilibrium price and quantity sold in a competitive market, a monopolist will charge a ________ price and sell a ________ quantity
A) higher; larger B) lower; larger C) higher; smaller D) lower; smaller E) none of these