The mass affordability of the iPhone is the result of the following, except
A) the law of diminishing returns in manufacturing.
B) mass production and spreading of fixed costs.
C) economies of scale and large volumes.
D) mass sales and distribution cost savings.
Answer: A) the law of diminishing returns in manufacturing.
Economics
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If the market were perfectly competitive instead of dominated by a monopsonist, what would the equilibrium wage and level of employment be?
a. W1 and E1 b. W2 and E0 c. W0 and E0 d. W0 and E1 e. W0 and E2
Economics
In recent decades, other countries have caught up to the U.S. and even surpassed it in some important economic arenas
a. True b. False Indicate whether the statement is true or false
Economics