Being "unequal" is seen as a more serious calamity that being poor
Indicate whether the statement is true or false
F
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A supply schedule is a table that reports:
A) the expected excess supply in the market at different prices. B) the profits earned by producers at different levels of production. C) the different quantities of a good that producers are willing to sell at different prices. D) the different quantities of a good that producers are willing to sell at different income levels.
If the quantities of labor and capital in an economy each increase by the same x percent, which of the following will increase by x percent?
A) marginal product of capital B) economic profits C) share of capital income in national income D) rental price of capital E) none of the above
The supply curve shifts to the right when a seller sells a good.
Answer the following statement true (T) or false (F)
Which of the following statements is TRUE?
A) If a firm is experiencing economies of scale, diminishing marginal product has not set in yet. B) No firm would ever operate at a level of output for which it experiences diseconomies of scale. C) A firm can experience diminishing marginal product and economies of scale at the same time. D) Diseconomies of scale is a short-run concept, while economies of scale is a long-run concept.