The decision to enter or exit an industry is known as the
A. Production decision.
B. Profit maximization decision.
C. Investment decision.
D. Output decision.
Answer: C
You might also like to view...
An economic rent can be created by a common property without any admission fee
a. only if people have identical tastes. b. if people's tastes differ, but the rent will still be sub-optimal. c. if people's tastes differ, in which case the rent will be optimal. d. if people's tastes differ, in which case the rent will be more than optimal.
Use the following table to answer the question below.Giovanni's Production Possibilities ScheduleJorge's Production Possibilities SchedulePounds of Green BeansPounds of CornPounds of Green BeansPounds of Corn02400480301802036060120402409060601201200800Giovanni's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn. Jorge's opportunity cost of producing 1 pound of green beans is ________ pound(s) of corn.
A. 1/6, 1/2 B. 6,2 C. 1/2,1/6 D. 2,6
When single-input producer choice sets are non-convex, the first order condition of the profit maximization problem is neither necessary nor sufficient for identifying the profit maximizing production plan.
Answer the following statement true (T) or false (F)
If the Fed raises the legal reserve requirement to 40 percent, and if the total money supply is at its maximum and is $750, the initial deposit must have been
a. $40 b. $250 c. $300 d. $450 e. $1,875