Producer surplus measures the benefit to sellers from receiving a price above their costs
a. True
b. False
Indicate whether the statement is true or false
True
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Once the problem of subsistence food growing had been solved, regional growth resulted in which of the following?
(a) Balanced growth across all sectors of the economy (b) Increased import growth and decreased export growth (c) Developed export activity (d) Faltering secondary industrial growth
Which of the following groups is most highly unionized?
a. private wage and salary workers b. government employees c. technical, sales, and service workers d. women
An increase in demand will induce entry by firms in the long run.
Answer the following statement true (T) or false (F)
Explain how a perfectly competitive market promotes productive efficiency (minimum average costs).
What will be an ideal response?