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  When a firm hires another employee and, as a result, total output increases, this change in total output is also known as  

  Which of the flowing statements is FALSE?  

  Which of the following is the best example of a variable cost in the short run?  

  As a firm hires more labor and each worker is able to specialize, what happens to workers’ marginal productivity?  

  What are the five foundations of economics?  

  When one producer can create more of a good than another producer using the same quantity of resources, the first producer has  

  A firm characterized as a price taker  

“The [Qing] government sponsored a number of projects designed to bolster the navy. The idea was to adopt Western technology but not the values and philosophies that produced it—China would learn from the West, equal it, and then surpass it.” Haiwang Yuan, editor, historian, This is China: The First 5,000 Years, 2010 The philosophy behind the late-nineteenth-century Chinese policy mentioned above was part of which of the following?

  Marginal revenue is  

  A dentist who lets a child take home a toy after a successful visit is providing a(n) ________ incentive.