The above figure shows the demand and cost curves for a firm in ________ in the ________
A) perfect competition; short run
B) monopolistic competition; long run
C) perfect competition; long run
D) monopolistic competition; short run
D
Economics
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Refer to the scenario above. The opportunity cost per dollar of value added in the production of Good X by worker 1 is ________
A) $0.50 of value added in the production of Good Y B) $100 of value added in the production of Good Y C) $87.50 of value added in the production of Good Y D) $0.70 of value added in the production of Good Y
Economics
The major determinant of an individual's income is
a. whether or not his family is wealthy. b. his personality-if the coworkers and the boss like him. c. how productive he is combined with demand for what he produces. d. if he earns a salary or if he is paid by the hour.
Economics