In the long-run, the firm can only expand output by adding more variable inputs (workers and raw materials)

Refer to the scenario above. The demand for Sporty's soccer balls is 2,500 units if ________

A) the price charged by Sporty is higher than the price charged by Go! B) the price charged by Go! is higher than the price charged by Sporty C) the price charged by Sporty is equal to the price charged by Go! D) the price charged by Go! is higher than the unit cost of producing a ball

If real income per person was $47,210 in the U.S. in 2010, and $55,860 in 2014, what was the annual growth rate over this time period?

a. 4.29 percent per year b. 1.83 percent per year c. 8.45 percent per year d. 1.18 percent per year