A production possibilities curve that is bowed out represents the case of
A) constant costs.
B) increasing costs.
C) decreasing costs.
D) external costs.
B
Economics
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Marginal cost is equal to
a. TC/Q. b. ?ATC/Q. c. ?TC/?Q. d. ?Q/?TC.
Economics
Consider the labor market for short-order cooks. An increase in the wages paid to fast-food workers will cause
a. both equilibrium wages and equilibrium employment to increase in the market for short-order cooks. b. both equilibrium wages and equilibrium employment to decrease in the market for short-order cooks. c. equilibrium wages to increase and equilibrium employment to decrease in the market for short-order cooks. d. equilibrium wages to decrease and equilibrium employment to increase in the market for short-order cooks.
Economics