Monopolistically competitive markets feature high barriers to entry
a. True
b. False
Indicate whether the statement is true or false
False
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In the above table, the marginal product is greatest when the
A) first worker is hired. B) second worker is hired. C) third worker is hired. D) fourth worker is hired.
The HPAE have been more open to imports than most developing countries
Indicate whether the statement is true or false
Studies show that the supply curve for oranges has shifted. Which of the following could not explain the shift of the supply curve?
a. Weather conditions have changed. b. The price of fertilizer has changed. c. The wage paid to orange pickers has changed. d. The price of oranges has changed. e. The demand for grapefruit has changed.
Answer the next question on the basis of the following information about the hypothetical economy of Asland. All figures are in millions.Unemployed7Total population145Employed95Discouraged workers3The labor force in Asland is
A. 105 million. B. 95 million. C. 102 million. D. 145 million.