The amount of government spending on education per public school student has ________ since 1960, and the achievement level of students has generally ________ since that time

Two of the most important factors that influence total factor productivity are

A) the stock of knowledge that the world possesses and the associated level of technology. B) the quantity and quality of labor available in an economy. C) capital accumulation and the total level of investment in an economy. D) population growth rates and the geographic location of the population.

Smyth Industries operated as a monopolist for the past several years, earning annual profits amounting to $50 million, which it could have maintained if Jones Incorporated did not enter the market. The result of this increased competition is lower prices and lower profits; Smyth Industries now earns $10 million annually. The managers of Smyth Industries are trying to devise a plan to drive Jones Incorporated out of the market so Smyth can regain its monopoly position (and profit). One of Smyth's managers suggests pricing its product 50 percent below marginal cost for exactly one year. The estimated impact of such a move is a loss of $1 billion. Ignoring antitrust concerns, answer the following question: If Smyth Industries engages in predatory pricing by slashing its price 50 percent

below marginal cost, the present value of current and future profits is: A. $100 million. B. $0. C. ?$100 million. D. $200 million.