A central theme of the new growth theory is that
A) firms don't really experience profit.
B) humans can work harder than previously thought.
C) the government is more efficient than private markets.
D) the economy doesn't experience diminishing returns.
E) firms don't experience diminishing returns.
D
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With no price discrimination,
a. A firm sells every unit at different prices b. A firm sells every unit at same prices c. Low-value groups pay a lower price than the high-value groups d. Low-value groups pay a higher price than the high-value groups
A perfectly competitive firm should produce in the short run:
a. only if price exceeds average total cost. b. even if price is less than average variable cost. c. as long as price exceeds average fixed cost. d. as long as price exceeds average variable cost.