Which would not increase the productivity of labor?
A) An increase in the size of the labor force
B) An increase in the quality of capital
C) An increase in the quantity of capital
D) An increase in technology
E) An increase in the efficiency of energy
A
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If the level of output produced by the firms in a perfectly competitive market has no effect on the prices of the inputs used by the firms, the market supply curve will be flatter than the supply curve for an individual firm in the market
Indicate whether the statement is true or false
The primary reason conglomerate mergers are the most difficult to attack under the antitrust laws is that
a. these mergers always involve a domestic firm and a foreign firm b. these mergers always involve the largest corporations in the United States c. there is no statute the government can use to attack them in court d. these mergers do not increase concentration in any market e. these mergers are always beneficial
In the _________, if profits are not possible, the perfectly competitive firm will seek out the quantity of output where _____________________.
a. long run; production increases b. short run; fixed costs can be reduced c. short run; losses are smallest d. long run; fixed costs can be eliminated
If a person claims, "I wouldn't eat anchovies if you paid me," we can assume that his marginal utility of anchovies is
A) positive. B) positive, but decreasing. C) zero. D) negative.