Productivity measures:
A. real output per unit of input.
B. per-unit production costs.
C. the changes in real wealth caused by price level changes.
D. the amount of capital goods used per worker.
A. real output per unit of input.
Economics
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When would a profit-maximizing monopolist that operates with no government intervention choose to produce the competitive level of output?
What will be an ideal response?
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An inferior good has a ________ income elasticity of demand and quantity demanded ________ as income rises
A) negative; increases B) negative; decreases C) positive; increases D) positive; decreases
Economics