Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point A to Point B is
A. -2/3.
B. -1.5.
C. -3.
D. -30.
Answer: B
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One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them
a. True b. False Indicate whether the statement is true or false
Average total cost is $100 for a given output, total fixed cost is 120 and average variable cost is 70. What is the quantity being produced?
What will be an ideal response?
If a nation lacks abundant natural resources, it ______.
a. still faces the same challenges as a nation with abundant natural resources b. cannot achieve sustained economic growth c. will likely have a difficult time during its initial development d. must increase the size of its population to achieve economic growth
The definition of monopolistic competition includes
A. few firms and ease of entry and exit. B. few firms and barriers to entry and exit. C. many firms and barriers to entry and exit. D. many firms and ease of entry and exit.