Average productivity can be measured as total output divided by total units of labor
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 4, then the firm
A) is earning positive profits. B) should produce 35 units. C) should shut down. D) None of above.
Economics
An example of a perfectly competitive market would be the market for
a. electricity. b. soybeans. c. coffee shops. d. restaurants.
Economics
The principle of comparative advantage was developed by
A. Harry Truman. B. David Ricardo. C. John Maynard Keynes. D. Adam Smith.
Economics
Which of the following is NOT a transfer payment?
A. Social Security retirement payments B. Social Security disability payments C. spending on national defense D. Medicare
Economics