Refer to the above figure. Which curve shows the most unequal distribution of income?
A. A
B. B
C. C
D. D
Answer: D
Economics
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The average return for supplying entrepreneurial ability is the entrepreneur's
A) accounting profit. B) normal profit. C) explicit profit. D) economic profit.
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________ is the ability to produce more of a good or service than competitors when using the same amount of resources
A) Comparative advantage B) Trade autarky C) Trade superiority D) Absolute advantage
Economics
Refer to Table 7-5. Fill in the following table with the opportunity costs of producing bows and arrows for Tran and Farah
Pens Pencils Tran Farah
Economics
Refer to Figure 3-4. At a price of $25, how many units will be sold?
A) 400 B) 500 C) 600 D) 800
Economics