Featherbedding shifts the marginal revenue product of labor curve to the right
a. True
b. False
B
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The table above gives the cost schedule for The X Firm. The data show that The X Firm's ________ curve is ________
A) ATC; U-shaped because the firm fixed costs are spread over larger amounts of output and the firm experiences decreasing marginal returns B) AFC; U-shaped because the firm spreads its fixed costs over larger and large amounts of output C) AVC; always declining because costs are divided across ever-increasing amounts of output D) MC; U-shaped because explicit costs exceed implicit costs E) ATC; U-shaped because output increases as costs increase
All of the following contribute to income inequality EXCEPT
A) differences in education and training. B) differences in job tastes. C) differences in talent. D) government transfer programs.