If your income goes up by 2% and, in response, the quantity demanded of good x falls by 3%, the good x can be considered

When a firm experiences steadily declining long-run average total costs as it produces more output, it is known as a(n)

A) oligopoly. B) rent seeker. C) natural monopoly. D) monopolistic competitor.

Truck drivers usually earn more than secretaries because

a. drivers require more education and training b. truck drivers have more flexibility in their daily activities c. truckers face greater risks d. secretaries have higher productivity than truckers e. truckers are discriminated against