If all discrimination in the United States were eliminated, the economy would
What will be an ideal response?
produce at some point closer to its production possibilities curve.
You might also like to view...
Other things remaining the same, an increase in the price of butter can be expected to
A) increase margarine sales. B) decrease margarine sales. C) increase butter sales. D) None of the above
Since World War II, most of the growth in U.S. government outlays is attributable to rapidly growing federal government transfer programs
a. True b. False Indicate whether the statement is true or false
If all firms in a monopolistically competitive market are incurring losses, then eventually:
a. the demand for the products in the market will increase. b. the supply of the products in the market will increase. c. the price of the products in general will decline. d. the cost of production will increase. e. the firms will exit until the existing ones just break even.
When a firm experiences constant returns to scale,
a. long-run average total cost is unchanged, even when output increases. b. long-run marginal cost is greater than long-run average total cost. c. long-run marginal cost is less than long-run average total cost. d. the firm is likely to experience coordination problems.