In the economic way of thinking, "outsourcing" is another application of
A) the entrepreneurial attempt to buy low, and sell high.
B) voluntary exchange.
C) the coordination of plans across different regions.
D) the discovery of people's comparative advantage.
E) all of the above.
E
Economics
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The figure above shows a typical perfectly competitive corn farm, whose marginal cost curve is MC and average total cost curve is ATC
Assuming there are no changes in technology, in the long run the lowest possible price for corn is ________ per bushel. A) $2.50 B) $2.00 C) $3.00 D) $3.50
Economics
Increases in capital per hour worked cannot sustain high rates of economic growth unless accompanied by technological change
Indicate whether the statement is true or false
Economics