If the marginal product of labor is positive and increasing, then the total product of labor curve is
a. constant
b. upward sloping and becoming steeper
c. downward sloping and becoming flatter
d. lies above the total cost curve
e. lies below the total cost curve
B
Economics
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When the demand for a good is inelastic and its price increases, the total revenue from the sale of the good will ________
A) increase B) decrease initially and then increase C) decrease D) not change
Economics
Assume the average annual CPI values for 2015 and 2016 were 207.3 and 215.3, respectively. What was the percent increase in the CPI between these two years?
A) 3.86 B) 0.96 C) 8.0 D) 1.04
Economics