Outsourcing is a source of increased U.S. output.
Answer the following statement true (T) or false (F)
True
Outsourcing allows greater specialization and therefore higher living standards.
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Briefly describe the process of microlending
What will be an ideal response?
Suppose that a market that is a natural monopoly has three producers providing the good to this market. This situation will a. result in lower prices for consumers under all circumstances
b. result in higher average costs for each producer than if there were only a single producer. c. result in all firms taking full advantage of economies of scale in the production of the good. d. result in a more efficient outcome than the market with fewer producers.
Labor markets are generally perfectly competitive markets.
Answer the following statement true (T) or false (F)
The MRP curve for a monopolist in the product market is
A. the same as the MRP curve for a perfectly competitive firm in the product market. B. to the left and below the MRP curve for a perfectly competitive firm in the product market. C. upward sloping and below the MFC curve for a perfectly competitive firm in the product market. D. to the right and above the MRP curve for a perfectly competitive firm in the product market.