An improvement in technology shifts the supply curve rightward
a. True
b. False
B
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Susan wishes to buy gasoline and have her car washed. She finds that if she buys 9 gallons of gasoline at $1.50 per gallon, the car wash costs $1, but if she buys 10 gallons of gasoline, the car wash is free. For Susan, the marginal cost of the tenth gallon of gasoline is:
a. zero. b. 50 cents. c. $1 d. $1.50.
When a country keeps its workers as fully employed as possible, it achieves a higher level of GDP than if many of its workers were idle
a. True b. False Indicate whether the statement is true or false
If the size of a tax doubles, the deadweight loss doubles
a. True b. False Indicate whether the statement is true or false
In the short run, the law of diminishing returns
A. Can be observed in every production process. B. Does not occur in command economies. C. Occurs for only a few economies. D. Can be overcome by using more variable inputs.