In the above figure, using the slope across an arc, the slope of the curve between points a and c is
A) 3/5.
B) 5/3.
C) -3/5.
D) -5/3.
D
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Per capita income in China is approximately ________% of the U.S. level
A) 17 B) 80 C) 40 D) 5
Which statement is true?
A. The monopolist's most efficient output is its most profitable output as well. B. The monopolist charges a higher price than the perfect competitor in the long run. C. All monopolists have control over an essential resource. D. None of these statements are true.
Import substitution industrialization in Latin America
A) relied on increased exports. B) provided subsidies for exports. C) shifted the bulk of exports away from primary commodities. D) created disincentives to export.
The marginal revenue product of labor declines as the number of workers increases because
A) firms hire the most efficient workers first and the least efficient workers last. B) firms must lower prices for the final product when they want to sell more units. C) of the law of diminishing marginal product. D) of diseconomies of scale.