If average labor productivity increases while population and the number of employed workers remain constant, then total output:
A. decreases.
B. may increase or decrease.
C. remains constant.
D. increases.
Answer: D
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This graph shows the marginal cost and marginal benefit associated with roadside litter clean up. Assume that the marginal benefit curve and marginal cost curve each have their usual slope.
The marginal cost of litter removal ________ due to ________.
A. decreases; diminishing returns to inputs B. increases; increasing opportunity costs C. increases; the Coase Theorem D. decreases; gains from specialization
Generally, specialization leads to
A) constant opportunity costs. B) greater productivity. C) the production of fewer capital goods. D) greater self—reliance.