The slope of the per person production function is
A) the marginal product of labor.
B) the marginal product of capital.
C) lower for a poor country than for a rich country.
D) higher for a rich country than for a poor country.
B
Economics
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________ refers to the reduction in economic surplus resulting from not being in competitive equilibrium
A) Producer atrophy B) Deadweight loss C) Economic shortage D) Marginal cost
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Which of the following models best represents the relationship of income to output?
a. a pyramid b. a circle c. a spectrum d. a web
Economics