A consumer cannot gain consumer's surplus if she purchases more than one unit of a good
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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What factors raise the productivity of labor?
What will be an ideal response?
Economics
A common source of diseconomies of scale is the
A) diminishing marginal returns to capital. B) diminishing marginal returns to labor. C) diminishing marginal returns to land. D) growing complexity of management and organizational structure.
Economics
When marginal revenue equals price for all levels of output, the firm is operating in a perfectly competitive market
a. True b. False
Economics
In Figure 30.2, a minimum wage of $20 will result in a
A. Shortage of 160 workers. B. Shortage of 180 hours. C. Surplus of 20 workers. D. Surplus of 32 workers.
Economics