A theory that has won virtually universal acceptance is a:

Refer to Figure 12-2. What happens if the firm produces more than Q4 units?

A) It could make a profit or a loss depending on what happens to demand. B) Its total revenue is increasing faster than its total cost. C) Its profit increases. D) It makes a loss.

Which of the following will not contribute to increasing the stock of physical or human capital of a nation?

a. an increase in savings b. a reduction in taxes on capital gains and stock dividends c. a lack of enforcement of private property rights d. the subsidization of higher education