The most appropriate type of labor market to analyze
a. is the world market
b. is the national market
c. is a regional market
d. is a local market
e. depends upon the purpose of the analysis
E
Economics
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Once production has reached the maximum average product of labor, if production increases then
A) average fixed cost rises. B) total costs decrease. C) total product decreases. D) decreasing marginal returns occur. E) the plant size must be increased.
Economics
The quantity theory assumes that
a. velocity is constant. b. income is constant. c. prices are constant. d. transactions are constant.
Economics