Suppose TC = 10 + (0.1 ? q2). If there are 100 identical firms in the market, the market supply curve is
A) Q = 1000 ? p.
B) Q = 500 ? p.
C) Q = 100 ? p.
D) Q = 10.
B
Economics
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As more workers are hired, the marginal physical product of labor eventually declines because
A) less efficient workers are hired as the number of workers increases. B) workers do not work well together when the number of workers increases. C) the amount of capital each worker has to work with declines as the number of workers increases. D) of diseconomies of scale.
Economics
The official U.S. poverty line for a family is calculated by taking 3 times the annual cost of:
a. public housing. b. basic medical care. c. utilities and transportation. d. a minimal diet.
Economics