The forces of supply and demand:
A. will not provide an efficient level of public goods.
B. lead to the efficient provision of public and private goods.
C. overcome the free-rider problem.
D. lead to the provision of too many public goods.
Answer: A
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If more and better technology is used for producing wheat in the United States than in a lesser-developed country, then the:
a. MRP of the U.S. workers will be higher than the MRP of the workers in the lesser-developed country. b. MRP of the U.S. workers will be lower than the MRP of the workers in the lesser-developed country. c. demand for the U.S. workers will be lower than the demand for the workers in the lesser developed country. d. price of wheat will be higher in the United States than in the lesser-developed country. e. wages of the U.S. workers will be lower than the wages of the workers in the lesser-developed country.
When the marginal-cost curve lies above the average-total-cost curve, the average-total-cost curve slopes up and the average-variable-cost curve slopes down
a. True b. False Indicate whether the statement is true or false