Resources used in the production process
What will be an ideal response?
inputs
Economics
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The prime engine of growth in market economies is
A) government spending B) consumer spending C) innovation D) private saving
Economics
In the above figure, what is the marginal cost of the 8th pizza?
A) $1.50 B) $12 C) $6 D) $96 E) 8 pizzas
Economics
A perfectly competitive firm will shut down rather than produce if its
A) price is less than average variable cost. B) price is less than total variable cost. C) total revenue is less than total cost. D) price is less than marginal cost.
Economics
Minimum efficient scale is defined as the level of output at which the short-run average total cost stops decreasing
Indicate whether the statement is true or false
Economics