Before-tax incomes are a better measure of income as compared to after-tax incomes
a. True
b. False
Indicate whether the statement is true or false
False
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At the current level of output, the marginal social cost of sandwiches exceeds the marginal social benefit of sandwiches. Compared to the allocatively efficient quantity we are producing too ________ sandwiches and too ________ of other goods
A) many; little B) many; much C) few; little D) few; much
Bertha considers borrowing funds to invest in expanding her dress shop. She is less likely to do that if interest rates increase.
a. true b. false
If a firm decides to hire a celebrity endorser, they compare the cost of hiring the celebrity endorser with:
A. profits from repeat customers. B. the cost of customer complaints. C. profits from initial purchases only. D. the number of celebrity endorser's instagram followers.
Economists assume that the goal of a firm is to
A) maximize economic profits. B) sell as many units as possible. C) maximize gross revenues. D) be the largest firm in its industry.