Over the range of most of a firm’s output, average revenue is greater than price.

After the inflation of the Johnson-Nixon-Ford years (1963–1976), the Carter Administration, while still inflationary, managed to slow down the rate of advancing prices

Indicate whether the statement is true or false

Compare and contrast the two normative standards to income distribution discussed in the text: The productivity standard and the egalitarian principle

What will be an ideal response?