The closer we are to the production possibilities frontier and the farther away we are from the origin,
A. the more unemployment there is.
B. the less unemployment there is.
C. the only way to produce more guns will be to give up some butter production.
D. the only way to produce more butter will be to give up some gun production.
B. the less unemployment there is.
Economics
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In a monopoly, consumer surplus decreases and producer surplus increases.
a. true b. false
Economics
For a perfect competitor, price equals
A) marginal revenue only. B) average revenue only. C) both average revenue and marginal revenue. D) neither marginal revenue nor average revenue.
Economics