Diseconomies of scale start between:
The following schedule gives the cost data for a firm:
A. 0 and 10 units of output
B. 40 and 50 units of output
C. 20 and 30 units of output
D. 30 and 40 units of output
B. 40 and 50 units of output
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Refer to Figure 7-5. With insurance and a third-party payer system, what price do consumers pay for medical services?
A) $40 B) $55 C) $65 D) > $65
Refer to the figure above. In autarky equilibrium, the relative price is given by the slope of the production possibility frontier at point
A) D. B) E. C) F. D) Can't answer without more information.
Biscuits are an inferior good for Aster, then if their price falls, she
a. will definitely buy more biscuits b. will definitely buy fewer biscuits c. may buy more biscuits d. will buy fewer biscuits if the substitution effect is larger than the income effect e. will buy more biscuits if the substitution effect is larger than the income effect
Technological change and labor productivity are negatively related
a. True b. False Indicate whether the statement is true or false