A consumer's preferences for $1 bills and $20 bills can be represented by indifference curves that are
a. bowed out from the origin.
b. bowed in toward the origin.
c. straight lines.
d. right angles.
c
Economics
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Supply curves are positively-sloped because of
a. inefficient allocation of resources. b. the law of diminishing returns. c. economies of scale. d. self-interested suppliers seeking economic profit. e. all of the above.
Economics
An efficiency wage
a. gives an employee an incentive to shirk his duties. b. is lower than the equilibrium wage for that position and region. c. is higher than the equilibrium wage for that position and region. d. both a and b are correct.
Economics