Which of the following economists is/are considered the leader(s) in the theory of market behavior?
(a) Alfred Marshall
(b) Adam Smith
(c) David Ricardo
(d) All of the above
(d)
Economics
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Twelve Federal Reserve Districts operate independently but with supervision
What will be an ideal response?
Economics
Labor demand is decreasing in the wage because
A) the substitution effect is larger than the income effect. B) the income effect is larger than the substitution effect. C) the production function is concave. D) the marginal product of labor is increasing in labor.
Economics