For each size of plant a manufacturer could build, there is a different
a. long-run average fixed cost curve
b. long-run average variable cost curve
c. short-run average total cost curve
d. long-run average total cost curve
e. long-run marginal cost curve
C
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The table above provides information about the marginal private benefit for education
The marginal private cost, which also equals the marginal social cost, of educating a student is $16,000 per year and does not change as more students are educated. There is an external benefit from education that is equal to $12,000 per student year and does not change as more students are educated. What is the efficient amount of education? A) 40,000 student-years B) 60,000 student-years C) 80,000 student-years D) 100,000 student-years
The gap between potential GDP and real GDP had been as large as 7 percent during the worst of the 2007-2009 recession. By 2015, the gap
A) was positive, with real GDP exceeding potential GDP. B) had been eliminated. C) remained at 7 percent. D) was still nearly 3 percent.
Adverse selection can only occur when there is asymmetric information?.
Indicate whether the statement is true or false.
Major league baseball players get paid more than minor league baseball players because of
a. compensating differentials. b. higher levels of educational attainment. c. greater abilities. d. All of the above are correct.