On-the-job training is one area of education in the United States most influenced by the
A. business sector.
B. government sector.
C. household sector.
D. foreign sector.
Answer: A
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The law of diminishing returns occurs because
A) the marginal product of an additional worker is greater than the marginal product of the previous worker. B) the marginal product of a variable input, such as labor, depends in part on the amount of fixed inputs, such as capital. C) total production decreases as more of the variable inputs are used. D) adding more and more workers leads to a decrease in the quantity of capital.
For perfectly competitive firms, marginal revenue always equals price.
Answer the following statement true (T) or false (F)
Suppose Uzbekistan decides to increase its production of bolts by 10. What is the opportunity cost of this decision?
A. 1/2 nail B. 5 nails C. 20 nails D. 2 nails
What is game theory and what light does it shed on the issues faced by duopolists?
What will be an ideal response?