Technological change is _____________ for economic growth than additional capital
Fill in the blank(s) with the appropriate word(s).
Ans: more important
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The graph shows the market for holiday condos in West Palm Beach. The equilibrium rent is ________ a week
A) any amount less than $1,550 B) any amount greater than $1,550 C) $1,550 D) $4,000 E) None of the above answers is correct.
The decision to innovate
A) depends on the marketing department's needs. B) depends on whether the firm wants to benefit its customers. C) is based on the marginal cost and the marginal revenue of innovation. D) is unnecessary in a monopolistically competitive market. E) None of the above answers is correct.
In the figure above, a point showing an inefficient production point is point
A) A. B) B. C) C. D) D.
Refer to the above figure. If government sets the maximum legal price of gasoline at $2 per gallon, then the $2 limit acts as
A) a price floor. B) a price ceiling. C) an equilibrium price. D) a just price.