On the graph above, for a while after t = 0, the growth rate of output per worker is ________ the growth rate prior to time zero, and ________

A) below; rising
B) below; falling
C) above; constant
D) above; falling


A

Economics

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Because there are positive externalities from higher education,

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A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PIwhere P is price, M is income, and PI is the price of a key input. The forecasts for the next year are  = $15,000 and I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2Total fixed cost will be $6,000 next year. Suppose income next year is forecasted to be $10,000 instead. What is the profit-maximizing output choice for the firm?

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The price elasticity of demand for eggs is -0.27. Therefore, an increase in the price of eggs will cause:

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Economics