Which of the following is an example of an investment in human capital?
A. enrolling in a course to improve your computer skills
B. purchasing a computer to increase the productivity of your workers
C. installing a new piece of software on your computer which enables you to read documents online
D. accepting a job in the computer industry
Ans: A. enrolling in a course to improve your computer skills
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If a monopolist had a zero marginal cost of production, it would maximize profits by choosing to produce a quantity where ______.
a. demand was inelastic b. demand was unit elastic c. demand was elastic d. It is impossible to determine where along a demand curve such a monopolist would choose to produce.
Explain the difference between a movement along a given output-per-laborer (or labor productivity) curve and a shift to a new output-per-laborer curve