An incumbent's gain from "learning by doing" is diminished if learning is rapid because
A) the incumbent gets too quick a head start
B) future entrants can catch up quickly
C) the incumbent will not bother to learn cost-saving techniques
D) other firms would not enter anyway
B) future entrants can catch up quickly
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The expenditure approach values ________ and the income approach values ________
A) goods and services at market prices; goods and services at factor prices B) services only at factor prices; goods only at market prices C) only goods at market prices; only services at factor prices D) goods and services at market prices; services at factor prices E) goods and services at factor prices; goods and services at market prices
The higher the price of the good measured on the vertical axis, other thing remaining the same, the flatter the budget line
Indicate whether the statement is true or false
Which government agency is in charge of hearing workers’ complaints of discrimination against them by their employer?
a. SEC b. BLS c. FCEE d. EEOC
An important prerequisite for the price system to work is an economy-wide respect for _______ rights
Fill in the blank(s) with correct word