If we were at point ____ it would be possible to produce more heart transplants and more round-the-world trips.
A. P
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Suppose the price of water rose sharply. Other things constant, what is the least likely to occur?
A) People will consume less water. B) Fewer swimming pools will be filled with water. C) More high-pressure showerheads will be sold. D) The demand for water will fall.
Child mortality rates are much higher in middle-income countries than in low-income countries
Indicate whether the statement is true or false
Exhibit 6-15 Long-run average cost
?
In Exhibit 6-15, short-run average total cost, short-run marginal cost, and long-run average cost are all equal at which level of output per week?
A. 500 units. B. 1,000 units. C. 1,500 units. D. 2,000 units.
A perfectly competitive firm discovers that its MRPL divided by the wage equals 1.5. The firm should
A) check the MRP of the other inputs and divide them by their prices. If they are all equal to 1.5 it is maximizing profits. B) hire more labor. C) purchase more capital. D) try to pay a lower wage rate.