Arrow's impossibility theorem states that the majority rule fails to produce transitive preferences for society

Countries that have experienced sustained increases in their standard of living have achieved them because of

A) higher rates of saving and investment. B) higher rates of population growth. C) sustained technological change. D) All of the above are correct.

If information about the total cost is not given for every possible 1 unit change in quantity, marginal cost can still be computed as

a. the price of labor divided by the quantity of labor. b. the price of labor divided by the marginal product of labor. c. fixed cost divided by the marginal product of labor. d. variable cost divided by the marginal product of labor.