An optimal two-part tariff pricing schedule maximizes consumer surplus

Indicate whether the statement is true or false


FALSE

Economics

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Use the figure below to answer the next question. An increase in an economy's labor productivity would

A. shift the production possibilities frontier from CD to AB. B. move the economy away from point B and toward point A. C. shift the production possibilities frontier from AB to CD. D. move the economy away from point A and toward point B.

Economics

For many jobs, as wages increase, the quantity supplied of labor increases. This set of facts is evidence that the

A) substitution effect is larger than the income effect and the supply of labor curve is upward sloping. B) income effect is larger than the substitution effect and the supply of labor curve is upward sloping. C) substitution effect is larger than the income effect and the supply of labor curve is backward bending. D) income effect is larger than the substitution effect and the supply of labor curve is backward bending.

Economics

Basic economics indicates that the cornerstones of economic progress are

What will be an ideal response?

Economics

The benefits of economic growth, particularly as measured by real GDP per capita, include

What will be an ideal response?

Economics