Which of the following would NOT be expected to increase labor productivity?
A. Technological advance
B. The acquisition of more education and training by the labor force
C. An increase in the size of the labor force
D. The realization of economies of scale
C. An increase in the size of the labor force
Economics
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Assume the demand function for good X can be written as Qd = 80 - 3Px + 2Py + 10I where Px = the price of X, Py = the price of good Y, and I = Consumer income. This equation implies that X and Y are substitutes
Indicate whether the statement is true or false
Economics
If the marginal cost of producing a good is increasing as a firm produces more of the good, then which of the following must be TRUE?
A) AFC is rising. B) AVC is rising. C) MC > AVC. D) MPL is falling.
Economics