A student might describe information about the costs of production as
a. dry and technical.
b. boring.
c. crucial to understanding firms and market structures.
d. All of the above could be correct.
d
Economics
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You have noticed that there is a persistent shortage of teachers in an inner-city school district in your state. Based on this observation, you suspect that:
A. the demand for teachers in the inner-city school district is too low. B. the wage for teachers in that district is higher than the wage in other districts. C. there is an excess supply of teachers in other districts. D. the wage for teachers in that district is lower than the equilibrium wage.
Economics
What are the 2 basic lessons learned about the redistributive effects of price changes?
What will be an ideal response?
Economics