More education and training usually lead to higher levels of
a. productivity.
b. population.
c. pollution.
d. import protectionism.
a
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In the long run, monopolistically competitive firms make zero economic profit because of
A) excess capacity. B) product variety. C) easy entry and exit. D) government regulation.
Ignoring taxes when making redistributive decisions has no impact on equity.
A. True B. False C. Uncertain
Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the firm should:
a. expand output. b. contract output. c. maintain output. d. There is insufficient information to answer the question.
Which trade theory has these implications: (1) nations may benefit from trade even when they do not differ in resource endowments or technology; and (2) specialization allows for scale economies and lower production costs?
What will be an ideal response?