Sam and kc both work in a tax office.

both workers use the same number of resources to do their jobs.

use the production possibility schedule to complete each sentence.

in this example, has an absolute advantage in processing tax returns.

has an absolute advantage in completing sales calls.

Which of the following is an example of a positive externality? a. promoting generic drugs would benefit people. b. a lower inflation rate would benefit most consumers. c. compulsory flu shots for all students prevents the spread of illness in the general public. d. singapore has adopted a comprehensive savings plan for all workers known as the central provident fund.

Match the different financial tasks to their corresponding financial life cycle phases wealth protection, wealth accumulation and wealth distribution

In the short-run, marginal costs are equal to the change in variable costs as output changes. ( mc = change in variable cost / change in quantity) assume that capital is fixed in the short-run. (a) start with the equation for marginal cost and derive an equation that relates marginal cost of production to the cost and productivity of labor. (b) draw a standard looking short-run marginal cost curve and use the equation you derived to explain its shape.