From a strictly economic perspective, immigration should be:
A. Expanded until its marginal benefits equal its marginal costs
B. Expanded until its total benefits equal its total costs
C. Expanded as long as its marginal costs exceed its marginal costs
D. Reduced if its marginal benefits exceed its marginal costs
A. Expanded until its marginal benefits equal its marginal costs
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The responsiveness of demand to changes in income holding the good's relative price constant is
A) price elasticity of demand. B) income elasticity of demand. C) elasticity of supply. D) cross price elasticity of demand.
With asymmetric information among consumers and positive search costs, a firm may
A) raise its price above the monopoly price. B) price at the monopoly level. C) price at the full information competitive level. D) None of the above.