The marginal productivity theory of distribution has been criticized because
a. it assumes that the existing distribution of ownership factors is fair and just when it may not be.
b. it does not tell us much about real policy matters.
c. a factor's MRP does not in any way correspond to productive effort.
d. All of the above are correct.
d
Economics
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In the figure above, with the tariff American consumers ________ million shirts per year
A) 40 B) 48 C) 32 D) 16
Economics
If a small percentage decrease in the price of chocolate causes a larger percentage decrease in the quantity supplied, the
A) demand for chocolate is elastic. B) demand for chocolate is inelastic. C) supply of chocolate is elastic. D) supply of chocolate is inelastic.
Economics