The long-run aggregate supply increases as:
a. new production technology is introduced.
b. the quality of labor declines.
c. the average price level increases.
d. natural resources become depleted.
e. the minimum wage rate increases.
a
Economics
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If a firm experiences diminishing marginal productivity of labor, the marginal product
a. increases as total product increases. b. decreases as total product increases. c. increases as total product decreases. d. decreases as total product decreases.
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An advantage of the corporate form of business organization is
A. easier access to capital. B. government supervision of its activities. C. that profits are taxed only on one level. D. unlimited liability.
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