Which of the following pairs of goods are likely to be considered complements?
A) Pens and writing pads
B) Laptops and electric heaters
C) Motorcycles and typewriters
D) Nokia and Samsung cell phones
A
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Production at points beyond the production possibilities frontier cannot be attained unless there is an increase in resources or an improvement in technology.
Answer the following statement true (T) or false (F)
The long-run average-total-cost curve connects the lowest cost for each level of output given by the short-run average-total-cost curves
a. True b. False Indicate whether the statement is true or false
The value marginal product of a resource is
a. the marginal product of the resource multiplied by the price of the product it helps to produce. b. the price of the product times the price of the resource. c. larger when the product price is smaller. d. larger when the marginal product is smaller.
The first antitrust act in the U.S. was the
A. Federal Trade Commission Act. B. Clayton Act. C. Cartels Legislation Act. D. Sherman Act.