Neoclassical growth theory assumes that technological progress
A) is determined by investment.
B) is determined by saving.
C) responds to economic incentives.
D) is a purely chance event.
D
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Scott owns a law-enforcement training operation in Boise, Idaho. He employs three trainers. The last trainer Scott hired increased Scott's total cost by $466 per week even though the trainer brought in only one new client. Hence Scott's
A) total variable cost equals $466. B) marginal cost of the last client equals $466. C) marginal cost of the last worker equals $233. D) total variable cost equals $233. E) total fixed cost of the last client equals $466.
The table above lists the market shares of the twenty makers of personal computers. The Herfindahl-Hirschman Index for this industry equals
A) 5. B) 250. C) 1250. D) 500.