When people are educated, they become:
A. more productive to society, because they have more skills to apply to a job.
B. less productive to society, because they stop working while in school.
C. less productive to society, because they require higher pay per hour.
D. more productive to society, because they are paid more.
A. more productive to society, because they have more skills to apply to a job.
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The figure illustrates Sally's budget line and her preferences. At point(s) ________, the marginal rate of substitution is equal to the relative price
A) B B) B, C, and E C) D D) E and C
A weapons producer sells guns to two countries that are at war with each other. The guns can be produced at a constant marginal cost of $10. The demand for guns from the two countries can be represented as:
QA = 100 - 2p QB = 80 - 4p Why is the weapons producer able to price discriminate? What price will it charge to each country?
Regardless of quantity in long-run equilibrium, the competitive price-taker market price cannot exceed the
a. long-run average cost of supplying that quantity. b. total variable cost of supplying that quantity. c. long-run total cost of supplying that quantity. d. minimum long-run marginal cost of supplying that quantity.
Explain why an investor cannot simply compare the size of promised payments from different investments, even if the interest rates and other risk factors are the same.
What will be an ideal response?