When does a woman experience lactation?
A. During fertilization
B. After ovulation
C. During labor and delivery
D. After childbirth
Answer: D. After childbirth
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Which of the following is true?
i. Marginal cost is measured by the maximum price that consumers are willing to pay for another unit of a good or service. ii. Producer surplus equals marginal benefit minus price, summed over the quantity produced. iii. A supply curve is a marginal cost curve. A) only iii B) only i C) only ii D) i and ii E) i and iii
If there is surplus of a good, then the quantity demanded ________ the quantity supplied and the price will ________
A) is less than; rise B) is less than; fall C) is greater than; rise D) is greater than; fall
The increase in output that is generated by an additional unit of input is called the:
A. input-output relationship. B. production function. C. marginal product. D. resource product.
Intermediate goods are goods and services used:
a. by the ultimate user. b. by state and local governments. c. as inputs. d. both as inputs and final goods.