Resources are
a. scarce for households but abundant for the whole economy
b. abundant for households but scarce for the whole economy
c. scarce for households and scarce for the whole economy.
d. abundant for households and the whole economy.
c
Economics
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In the long-run equilibrium, a monopolistically competitive firm earning normal profit produces the allocatively efficient output level
Indicate whether the statement is true or false
Economics
The finite nature of the economy's resource base:
A. will be solved if only we would learn to conserve. B. is only a problem in developing countries. C. will be solved as technology advances. D. will always be with us.
Economics