The table above shows the short-run product schedule for Virginia's Tee-Shirts. The worker for whom the law of diminishing returns initially occurs is the ________ worker

Income received minus direct taxes is called

a. national income b. personal income c. disposable personal income d. transfer payments e. net national product

One implication of goods being standardized in a market is:

A. the government regulations must promote competition and lower prices to be efficient. B. there are no information asymmetries. C. the similarity in products may be real or perceived. D. the market has a low degree of competition.