The slope of the production function with capital per worker on the horizontal axis and output per worker on the vertical axis
a. is positive and gets steeper as capital per worker rises.
b. is positive and gets flatter as capital per worker rises.
c. is negative and gets steeper as capital per worker rises.
d. is negative and gets flatter as capital per worker rises.
b
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A monopolistic competitor does not earn profits in the long run unless it can successfully differentiate its product in the minds of its consumers
Indicate whether the statement is true or false
Refer to Figure 12.4. The implementation of corrective policy by the central bank is designed to move the economy from
A) point A to point B. B) point B to point D. C) point D to point C. D) point C to point A.
The distinguished economist Kenneth Bounding stated: “Theories without facts may be barren, but facts without theories are meaningless.” Explain what he meant
Please provide the best answer for the statement.
The threat of rejection in market transactions:
A. leads to better products for consumers. B. leads to lower prices for consumers. C. leads to greater cooperation between buyers and sellers. D. does all of these.