The production-possibility curve illustrates the consumption preferences of a country's population, and explains why all people prefer to be employed rather than unemployed.
Answer the following statement true (T) or false (F)
False
Economics
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Refer to the figure above. What is the producer surplus when the price is $50?
A) $100 B) $200 C) $400 D) $1,000
Economics
What is the relationship between debt, falling commodity prices and rainforest degradation?
What will be an ideal response?
Economics
If an industrial union is able to negotiate a wage above the competitive market-clearing wage, employment in the industry will increase
a. True b. False
Economics
A perfectly competitive firm maximizes profit when:
a. its marginal revenue is equal to its marginal cost. b. its marginal revenue is greater than its marginal cost. c. its marginal cost is negative. d. its marginal cost is greater than its marginal revenue. e. its marginal cost is minimum.
Economics