Land "liberals" in the 19th century
a. believed that the sale of the public domain should provide substantial government revenue.
b. voted against the Homestead Act of 1862.
c. supported the sale of the public domain in small plots.
d. were against the extension of credit to land buyers.
c. supported the sale of the public domain in small plots.
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The more we have of a good or service, the smaller is its marginal benefit and the less we are willing to pay for an additional unit of it
Indicate whether the statement is true or false
In an increasing-cost industry, expansion of output
A) causes input prices to rise as demand for them grows. B) leaves input prices constant as input demand grows. C) causes economies of scale to occur. D) occurs under conditions of increasing returns to scale. E) occurs without diminishing marginal product.