A firm operating with diminishing total returns cannot be profit maximizing
Indicate whether the statement is true or false
True . This firm could produce more output with fewer inputs. This cannot be profit maximizing.
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The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The expenditure multiplier is equal to
A) 1.25. B) 10. C) 0.8. D) 2. E) 5.
The Robinson-Patman act
a. Is a part of the antitrust laws b. Makes it illegal to give a price discount on a good sold to another business c. Makes it illegal to give a price discount on a good sold to final customers d. Both A&B
A theory is a deliberate simplification or abstraction of factual relationships
a. True b. False Indicate whether the statement is true or false
Which of the following lists contains, in this order, natural resources, human capital, and physical capital?
a. For a restaurant: the land the restaurant was built on, the money it borrowed to buy supplies, the freezers where the chops and steaks are kept. b. For a furniture company: wood, the skills and knowledge of its workers, saws. c. For a railroad: fuel, railroad engines, railroad tracks. d. None of the above is correct.