Bill can cook dinner in 45 minutes and mow the lawn in 1.5 hours. Eileen can cook dinner in 1.5 hours and mow the lawn in 2 hours. Bill's opportunity cost of mowing the lawn is

"The law of diminishing returns is the same as the decreasing returns to scale." Do you agree? Explain

What will be an ideal response?

If a country experiences persistently low inflation, which of the following tends NOT to occur?

A) wage indexation will become less important B) nominal wages will be set for shorter periods of time C) the markup over labor costs will decrease D) all of the above