A normative statement
A) depends on someone's values.
B) cannot use the word "should."
C) says what is currently believed about the way the world operates.
D) must be tested to determine if it is correct.
E) can be tested to determine if it is correct.
A
You might also like to view...
Labor specialization can increase production primarily because workers
a. are now supervised more and so have to work harder b. become proficient when they specialize in what they do best c. have to work more hours to buy the things they want d. engage in competitive, rather than cooperative, production e. have to learn how to do every production-related task well
The long run, the price charged by a monopolistically competitive firm seeking to maximize profit will:
A. be less than both MC and ATC. B. exceed ATC but equal MC. C. exceed MC but equal ATC. D. exceed both MC and ATC.