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Title: In recent years, information technology such as computers and scanners have been a ________ for ... Post by: michaelmorris17 on Feb 26, 2018 In recent years, information technology such as computers and scanners have been a ________ for low-skilled labor and have led to ________ wage rates for low-skilled workers.
A) substitute; higher B) substitute; lower C) complement; higher D) complement; lower Ques. 2 According to the quantity theory of money, in the long run, an increase in the quantity of money does not change real GDP but does raise the price level. Indicate whether the statement is true or false Ques. 3 A free rider problem is created by private goods. Indicate whether the statement is true or false Ques. 4 The point where the indifference curve is tangent to the budget line A) is the best affordable point. B) is where the marginal rate of substitution exceeds the relative price by as much as possible. C) is a point on consumer's demand curve. D) All of the above answers are correct. Ques. 5 For a perfectly competitive firm, in the long-run equilibrium A) P = MC = ATC = MR. B) MR = MC = AFC. C) MR = P = ATC = AFC. D) P = MC > ATC. Ques. 6 We are using resources efficiently if we can produce more of one good without producing less of some other good that we value more highly. Indicate whether the statement is true or false Ques. 7 What is a natural oligopoly? How does it arise? Give an example. What will be an ideal response? Ques. 8 Based on the above figure, for which of the following amounts of output at Ike's Ice Cream Kitchen does the average product of labor exceed the marginal product of labor? A) at 10 gallons B) at 40 gallons C) at 70 gallons D) all of the above Ques. 9 The figure above shows the market supply and market demand curves for pizza. If the market is at its equilibrium, what area in the graph above represents: a) consumer surplus? b) producer surplus? Title: In recent years, information technology such as computers and scanners have been a ________ for ... Post by: logan27 on Feb 26, 2018 Content hidden
Title: In recent years, information technology such as computers and scanners have been a ________ for ... Post by: michaelmorris17 on Feb 26, 2018 What an excellent community, thanks for answering
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