Many scholars believe that the importance of research and development is understated. Efforts in research and development can include:
a. the introduction of new products.
b. management improvements
c. production innovations.
d. any of the above.
d
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What happens to a monopoly's revenue when it sells more units of its product?
What will be an ideal response?
Which of the following is false?
a. The total product schedule shows the total amount of output generated as the level of the fixed input increases. b. The marginal product of any single input is the change in total product resulting from a small change in the amount of that input used. c. As the amount of a variable input is increased, the amount of other fixed inputs being held constant, a point ultimately will be reached beyond which marginal product will decline. This is called diminishing marginal product. d. A firm never knowingly allows itself to reach the point where the marginal product becomes negative.
Differences in human capital among groups of workers is possibly a reflection of past discrimination
a. True b. False Indicate whether the statement is true or false
Most of the world's population lives in
A. North America. B. the LDCs. C. Western Europe. D. the NICs.