Single company supplies the entire market for a particular good or service
What will be an ideal response?
monopoly
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Having a refundable deposit for recyclable material
A) raises the marginal private cost of disposal. B) raises the marginal social cost of disposal. C) lowers the marginal private cost of disposal. D) lowers the marginal social cost of disposal. E) does not affect disposal costs.
Incentive contracts typically result in higher risk-related compensation to agents on average,
a. even so, they are always worth it b. this does not affect their desirability c. as a consequence, they may cost more than the problem they solve d. therefore, they are never worth it
Suppose you are using 10 units of labor in your short-run production process. At this point, the average product of your labor is 10, and the marginal product of the last unit of labor was 14. Given this, we know that the
A. marginal product of labor must be decreasing. B. average product of labor must be decreasing. C. marginal product of labor must be increasing. D. average product of labor must be increasing.
Refer to the graphs shown. Which of the graphs correctly depict the long-run Phillips curve?
A. A B. B C. C D. D