In principle, we can
a. ignore positive statements when choosing among various public policy alternatives.
b. ignore normative statements when choosing among various public policy alternatives.
c. confirm or refute positive statements by examining evidence.
d. confirm or refute normative statements by examining evidence.
c
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According to the Hamermesh and Biddle study, people deemed more attractive than average earn
a. 30-40 percent more than unattractive people. b. about 5 percent more than average looking people. c. the same as average looking people and 15-20 percent more than unattractive people. d. 25 percent more than average looking people and 50 percent more than unattractive people.
A profit-maximizing firm should hire an input as long as the:
A. Firm can increase its total revenue B. Price of the input doesn't exceed the price of the other inputs used in the firm's production C. Marginal revenue product of the input is at least as much as the cost of hiring the input D. Marginal revenue product of the input is greater than the marginal revenue product of other inputs the firm is using