At the point where a firm incurs diminishing marginal returns, total product will begin to decline
Indicate whether the statement is true or false
FALSE
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Refer to Figure 3-8. The graph in this figure illustrates an initial competitive equilibrium in the market for apples at the intersection of D2 and S2 (point E). Which of the following changes would cause the equilibrium to change to point A?
A) a positive change in the technology used to produce apples and decrease in the price of oranges, a substitute for apples B) an increase in the wages of apple workers and a decrease in the price of oranges, a substitute for apples C) an increase in the number of apple producers and a decrease in the number of apple trees as a result of disease D) a decrease in the wages of apple workers and an increase in the price of oranges, a substitute for apples
Requiring that applicants get drug tested is an example of:
A. signaling. B. screening. C. statistical discrimination. D. building a reputation.
A good that is most likely to be in the producer price index is:
A. industrial machinery. B. SUV. C. spaghetti. D. All of these are in the PPI.
According to one research study focusing on Indonesia, actions by nongovernmental organizations are ___________ than importing countries' threats to raise tariffs.
a. less effective in raising wages and limiting declines in employment b. more effective in raising wages and limiting declines in employment c. less effective in raising wages but more effective in limiting declines in employment d. more effective in raising wages but less effective in limiting declines in employment