If the productivity of labor diminishes only slowly as output increases, labor:
A. demand will most likely be elastic.
B. supply will most likely be elastic.
C. demand will most likely be inelastic.
D. supply will most likely be inelastic.
Answer: A
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A. more; decrease B. more; increase C. fewer; decrease D. fewer; increase
Reliant assets are always all of the following except:
a. durable b. have substantially less value in second best use c. dependent on unique complementary inputs d. pivotal in designing strategy
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a. True b. False Indicate whether the statement is true or false
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b. individuals' cost of preparing tax returns and the government's cost of enforcing tax laws. c. the opportunity cost of social programs. d. the net interest that must be paid on the national debt.