Convergence of output per capita across countries has come from
A) a convergence of saving rates.
B) a convergence of the accumulation of capital.
C) higher technological progress from the countries that started behind.
D) all of the above
C
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Refer to Table 4-5. The table above lists the highest prices five consumers are willing to pay for a concert ticket. If the price of one of the tickets is $20
A) the total consumer surplus from the purchase of tickets will be $122. B) only Violet and Walter will buy tickets. C) Xavier's consumer surplus is $50. D) everyone will buy a ticket except for Zachary.
The individual firm maximizes its total profit by producing the level of output at which the difference between marginal revenue and marginal cost is as large as possible
Indicate whether the statement is true or false