An increase in population growth will lead to a ________ in the steady-state capital—labor ratio and a ________ in output per worker
A) fall; fall
B) fall; rise
C) rise; rise
D) rise; fall
A
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Is there a similarity between a monopoly and a monopolistically competitive firm in the long run? Explain your answer
What will be an ideal response?
Examining the conditions that could lead to unemployment in an economy is an example of a microeconomic topic
Indicate whether the statement is true or false
In which of the following cases does the benefit principle provide little guidance?
a. The benefits of the program are spread throughout the population. b. Gasoline taxes are used to fund highways. c. It is difficult to identify the beneficiaries of government programs. d. In cases a and c. e. In none of the above cases.
As Product Co adds the first four workers to its production process in the short run, its output rises from 0 to 12 to 25 to 35 to 43 . Addition of the fifth worker will most likely lead to an output rate
a. greater than 51 b. equal to 51 c. less than 51 d. greater than 51 if the firm experiences diseconomies of scale e. none of the above