Increasing returns means that
A) each additional worker produces more than the worker before him/her.
B) each additional worker costs less.
C) marginal cost rises.
D) technology is having a negative impact on production.
A
Economics
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When a tax is levied on a good,
a. government collects revenues which might justify the loss in total welfare. b. there is a decrease in the quantity of the good bought and sold in the market. c. a wedge is placed between the price buyers pay and the price sellers effectively receive. d. All of the above are correct.
Economics
Give an example that is not in the text of a good that has a change of demand, but not a change of supply. What effect does this change have on the good’s equilibrium price and quantity?
What will be an ideal response?
Economics