In the range of increasing marginal returns, total product is
a. increasing at a constant rate
b. increasing at an increasing rate
c. increasing at a decreasing rate
d. decreasing at an increasing rate
e. decreasing at a decreasing rate
B
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Which of the following statements is true?
A) For positive growth, consumption in an economy should always be less than savings. B) The greater the savings rate in an economy, the slower is the rate of capital accumulation. C) The greater the consumption expenditure in an economy, the faster is capital accumulation. D) Extremely high savings rate can be counterproductive for an economy in short term.
Explain why a firm should continue to operate in the short run so long as market price is greater the the firm's average variable cost at the profit-maximizing level of output
What will be an ideal response?
Refer to Figure 9.8. If free trade in sugar is allowed, consumer surplus will be
A) $175. B) $250. C) $30,625. D) $61,250. E) $62,500.
The AFL was formed to promote
a. social equality b. business profits c. environmental causes d. strictly economic goals e. political changes