Refer to Figure 11-2. The curve labeled "E" is
A) the output supply curve. B) the average product curve.
C) the marginal product curve. D) the total product curve.
C
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Technological change brings a ________ to firms that adopt the new technology
A) permanent economic profit B) temporary economic profit C) permanent economic loss D) temporary economic loss E) temporary normal profit
An HVAC company is selling heating and cooling equipment. Between its sales staff and the VP of Marketing, the sales staff would want to
a. Price aggressively to ensure sales are made b. Price less aggressively to ensure that profitable sales are made c. Price at cost to minimize sales d. None of the above
A drought destroys much of the peach crop. As a result, consumer surplus in the peach market:
A. increases. B. decreases. C. remains unchanged. D. equals the deadweight loss increase.
Recall the Application about how having car insurance affects driving behavior to answer the following question(s).Recall the Application. When a state makes car insurance compulsory, decreasing the number of uninsured drivers, roads tend to become less hazardous.
Answer the following statement true (T) or false (F)