What decade is considered pivotal in the passage of labor reform laws in the United States?
a. 1860s
b. 1900s
c. 1930s
d. 1980s
c. 1930s
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Marginal costs are the costs relevant to a decision because they
A) are the costs that will be affected by the decision. B) the cost of producing one more unit of output. C) total cost divided by units of output. D) total cost minus sunk costs.
Figure 10-8
?
In the short run, the firm in Figure 10-8 will shut down if the price falls below
A. $8. B. $6. C. $5. D. $1.
The government's spending on agriculture is essentially a transfer payments program that takes money from the general population in the form of taxes and gives it to the farm population in the form of subsidies
Indicate whether the statement is true or false
The principle of diminishing returns to capital states that if the amount of labor and other inputs employed is held constant, then the greater the amount of capital in use the:
A. the more an additional unit of capital adds to production. B. less is produced. C. the less an additional unit of capital adds to production. D. less production is wasted.