________: social costs of imperfect competition
Fill in the blank(s) with correct word
Dead-weight loss
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Which of the following policies would increase the growth rate of an economy in the endogenous growth model with human capital?
A) mandatory schooling. B) minimum wages. C) redistributive taxation. D) lump-sum taxation.
Explain the ways in which the government can persuade private businesses to invest more in order to speed up the process of capital formation?
A monopolist will never produce a level of output where MR < 0.
Answer the following statement true (T) or false (F)
Which of the following is NOT a characteristic of a monopolistically competitive market?
A. There are many firms. B. Firms sell products that are similar but not identical. C. Firms must take the market price as given. D. There are no artificial barriers to entry.