A goal of market-based reforms of the health care system is to give patients an incentive to pay more attention to the prices of medical services. This would tend to ________ economic efficiency by ________ the costs of medical services
A) increase; increasing B) decrease; increasing
C) increase; decreasing D) decrease; decreasing
C
Economics
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Refer to the table below. When the firm hires four units of labor, the average product of labor is:
Assume that the only variable resource used to produce output is labor.
A. 5 units of output
B. 7.50 units of output
C. 8.50 units of output
D. 30 units of output
Economics
Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.
A. higher; higher B. higher; potential C. lower; higher D. lower; potential
Economics