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Author Question: The United States is the most inequitable country in the developed world. Indicate whether the ... (Read 86 times)

HCHenry

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on: Jul 1, 2018
The United States is the most inequitable country in the developed world.
 
  Indicate whether the statement is true or false

Question 2

Learning by doing will result in
 
  A) an upward sloping long-run average cost curve.
  B) a larger long-run marginal cost than long-run average cost.
  C) a rotation in the isocost curves.
  D) lower long-run costs than short-run costs.
Microeconomics ¦ Perloff ¦ 8th Edition
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tdewitt

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Reply #1 on: Jul 1, 2018
Answer to Question 1

False. Efficiency means how many goods to produce, and equity means how the goods are allocated. They do not move in opposite directions. Even if one might say that the United States is the most efficient country in the developed world, it does not mean that the U.S. is also the most inequitable country.

Answer to Question 2

D


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