Skateboards are produced according to the production function, q = 10K0.25L0.5 - L. At what quantity of labor does total product begin to decline given that capital is fixed at 16 units in the short-run?

According to the text, government licensing frequently enables monopoly in

A) agriculture. B) electricity production. C) mining. D) retail sales.

Which of the following is considered expansionary fiscal policy?

A) Congress decreases the income tax rate. B) Congress increases defense spending. C) Legislation increases a college tuition deduction from federal income taxes. D) The Arizona legislature cuts highway spending to balance its budget.