In 1900, the population of _____ had the highest average income level of any country in the world
a. Germany
b. the United States
c. the United Kingdom
d. France
b
Economics
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Explain how the market supply curve is derived. Does the law of supply apply to the market supply curve?
What will be an ideal response?
Economics
Refer to the graph shown. If labor costs $10 per unit and machines cost $15 per unit, the economically efficient cost of producing 500 units of output is:
A. $150. B. $100. C. $300. D. impossible to determine using the information given.
Economics