The Malthusian population trap assumes that

(a) contraception is unavailable.
(b) technological progress may be rapid.
(c) fertility increases with per capita income.
(d) all of the above.


C

Economics

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Figure 7-8   Of the graphs in Figure 7-8, which diagram is most likely to be the marginal cost?

A. 1 B. 2 C. 3 D. 4

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Vertical contracts often result in

a. Higher prices b. Lower prices c. Unchanged prices d. None of the above

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Compared to perfect competition, a monopoly in the long run

A. produces a larger output. B. charges a higher price. C. produces the minimum average cost. D. All of these responses are correct.

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What will be an ideal response?

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