In the Primary Metals industry, it is estimated that the elasticity of output with respect to labor is 0.51 and the elasticity of output with respect to capital is 0.73. These two measures indicate that the primary metals industry is characterized by

At the current level of output, the marginal social benefit from a slice of pizza is less than the marginal social cost of producing a slice of pizza

Resources will be used more efficiently if ________ slices of pizza are produced and ________ other goods are produced. A) fewer; fewer B) more; fewer C) more; more D) fewer; more

In the short-run, a firm's supply curve is equal to the

a. marginal cost curve above its average variable cost curve. b. marginal cost curve above its average total cost curve. c. average variable cost curve above its marginal cost curve. d. average total cost curve above its marginal cost curve.