Answer:
False
Explanation:
GDP or gross domestic product value is a measure of the total value of all products and services produced within the boundaries of a country in a given time. It factors all products, regardless of who manufactures them, whether foreigners or locals, men or women. To avoid double-counting, GDP considers finished products only.
In calculating GDP, economists will deduct the cost of imports. The reason is that imports are produced in foreign countries. The value of GDP indicates whether the economy is expanding or contracting. An increase in GDP shows economic growth in the country. An increase in capital goods, human capital, labor force, technology, contribute to economic growth.
<u>In </u><u>microeconomics</u><u>, the term </u><u>monopoly</u><u> is synonymous with decreasing returns of scale.</u>
When there are economies of scale in production?
As output increases, the long-run average total cost decreases. The total variable cost of creating five units of output is indicated by the Y-interval between the two curves in the diagram.
Is price and marginal cost equal?
- In economics, the practice of setting a product's price to cover the additional expense of producing an additional unit of output is known as marginal cost pricing.
- This policy limits the producer's ability to charge for each unit of a product sold to the addition to total cost attributable to materials and direct labor.
Simply put, what is microeconomics?
- Microeconomics is the study of how people, households, and businesses make decisions and distribute resources.
- It generally pertains to markets for goods and services and addresses both personal and financial concerns.
Learn more about microeconomics
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That should be false because it says never and the person is student
<span>The FAFSA form is used in order to apply for Federal Student Aid. This is due to the fact that the form assesses the financial situation of the student and their family, and is able to provide funding for the student to pursue their higher level education.</span>
