In the figure above, if the firm is regulated using an average cost pricing rule, the economic loss created is equal to the area of
A) ABG.
B) BEFG.
C) BCFG.
D) BCE.
E) None of the above because there is no economic loss created.
E
Economics
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The productivity standard for the distribution of income can be thought of as
A) rewarding people according to their ability to produce useful goods. B) benefiting only the least productive worker. C) proving that egalitarians are correct. D) rewarding only the wealthy.
Economics
Explain reasons that may make payments based on marginal productivity have widely varied results.
What will be an ideal response?
Economics