A business must analyze___________before making a decision.
Fill in the blank(s) with the appropriate word(s).
Ans: costs
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Suppose that Jesse Eisenberg had been offered a bigger and better part in another movie and that to hire him for The Social Network, the producer had to double Jesse's pay
What incentives would have changed? How might the changed incentives have changed the choices that people made?
When economists assume that people are rational and respond to incentives, they mean:
A. people act with kindness. B. people are altruistic. C. people act in their own self-interest. D. people are selfish.
Net interest payments made by the government depend on the total federal debt held and on the level of interest rates.
Answer the following statement true (T) or false (F)
A monopolist can earn economic profits in the long run because
A) a monopoly is by definition large, and this gives it the ability to make large profits. B) a monopoly makes the good or service better than anyone else. C) barriers to entry prevent new firms from entering the industry. D) monopolies can legally force people to buy their products and to pay more for them than they are worth.