The least-cost way of producing a particular rate of output is represented by a point of tangency between a short-run average cost curve and the

When investment occurs in developing nations

A) investors hope to gain significant returns on their investment and residents gain higher rates of economic growth. B) higher rates of economic growth are usually not achieved. C) significant levels of pollution usually occur. D) government politicians usually benefit from the illegal payments made to secure the investment.

Refer the above figure. Suppose the union sets the wage rate that will maximize the total income for the members who work. The total wages will be

A) W1iL4O. B) W2aL3O. C) W3bL2O. D) W3bhW1.