Which is the best example of specialization?
A) a high school math teacher who teaches only calculus
B) a firm that produces both luggage and cooking oil
C) a person whose job includes accounting, personnel, and maintenance tasks
D) a high school math teacher who teaches algebra and calculus
Answer: A
Economics
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How would an increase in prices in retail stores change the real value of the money you earn as wages?
What will be an ideal response?
Economics
A firm will enter a competitive market when
A) it can gather market share at the expense of incumbent firms. B) it would not be the last firm entering. C) it can earn a positive long-run profit. D) the long-run supply curve is upward sloping.
Economics