Which of the following is an example of division of labor?
a. an author writing a book one chapter at a time
b. a firm trying to get rid of a labor union
c. separating resources into four categories: land, labor, capital, and entrepreneurial ability
d. allocating revenue among a firm's resource suppliers
e. dividing an assembly process into separate steps
E
Economics
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In the long run, a firm in monopolistic competition produces where the slope of the average total cost curve is
A) negative. B) zero. C) positive. D) equal to the marginal cost.
Economics
Which of the following provides health-care coverage to people age 65 and over?
A) Medicaid B) Social Security C) Medicare D) Health-Aid
Economics