Which of the following would be a human capital investment?
a. On-the-job training programs.
b. Health care programs.
c. Formal education.
d. All of these.
d
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As long as a person had to pay a positive price for a good, he would never consume to the point where his total utility was falling with additional consumption
a. True b. False Indicate whether the statement is true or false
When a firm is experiencing economies of scale, it will:
a. underuse a larger plant size than is indicated by short-run efficiency concerns. b. underuse a smaller plant than is indicated by short-run efficiency concerns. c. overuse a larger plant size than is indicated by short-run efficiency concerns. d. overuse a smaller plant size than is indicated by short-run efficiency concerns. e. produce at the minimum short-run and long-run average costs.