For a fixed proportion production function, at the vertex of any of the (L-shaped) isoquants the marginal productivity of either input is
a. constant
b. zero

The table above provides information about the marginal private benefit of education. The marginal private cost, which also equals the marginal social cost, of educating a student is $16,000 per year and does not change as more students are educated

There is an external benefit from education that is equal to $12,000 per student year and does not change as more students are educated. If the market for education is competitive and unregulated, the equilibrium quantity of education will be ________ and the tuition will be ________. A) 20,000 student-years; $20,000 B) 40,000 student-years; $16,000 C) 60,000 student-years; $12,000 D) 80,000 student-years; $8,000

In a two-good, two country world, if one country has a comparative advantage in the production of one good, it can benefit by trading with the other country

Indicate whether the statement is true or false