New growth theory asserts that
i. human capital grows because of choices.
ii. discoveries result from choices.
iii. competition brings profits.
A) i only B) ii only C) iii only D) both i and ii E) both i and iii
D
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Explain the process that drives the economic profit to zero in the long run for a perfectly competitive firm
What will be an ideal response?
How does the production possibilities frontier illustrate production efficiency?
What will be an ideal response?
Which of the following is FALSE regarding unions?
A) The American Federation of Labor (AFL), composed of craft unions, was formed in 1886 under the leadership of Samuel Gompers. B) For a period after World War I the government temporarily stopped protecting labor's right to organize. C) During the Great Depression, legislation was passed that made collective bargaining illegal. D) The AFL and the CIO merged in 1955.
Electricity pricing that varies in its billing expense throughout the day is called
a. marginal cost pricing b. variable pricing c. full cost pricing pricing d. marginal pricing e. dynamic pricing