An individual perfectly competitive firm has a supply curve
A) with a positive slope.
B) with a negative slope.
C) that is parallel to the quantity axis.
D) that has a positive slope at lower output levels and a negative slope at higher output levels.
A
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Over the range of output for which the average product of labor curve is negatively sloped, the average variable cost curve is positively sloped
Indicate whether the statement is true or false
If the production of a good creates large spillover benefits on others, the government might correct for the:
a. overallocation of resources to its production by subsidizing it b. overallocation of resources to its production by imposing a tax on it. c. underallocation of resources to its production by subsidizing it. d. underallocation of resources to its production by imposing a tax on it.