If the wage rate is fixed at a certain level, then MLC is equal to that wage rate
Indicate whether the statement is true or false
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Refer to the above table. Suppose Airbus is set to produce the aircraft before Boeing. Which company will enter the market?
What will be an ideal response?
Claire has just eaten her second bowl of cereal. We can say:
A. her second bowl likely reduced her total utility. B. her second bowl likely added less to her total utility than the first. C. her third bowl will likely decrease her total utility. D. her third bowl will likely increase her total utility by at least as much as the second.
If a bank has $100,000 in demand deposits, reserves of $20,000 . and no excess reserves, then the legal reserve requirement is
a. 10 percent b. 20 percent c. 25 percent d. 30 percent e. 50 percent
If a firm produces a quantity at which total revenue exceeds total cost, then:
a. economic profit is positive. b. economic profit equals accounting profit. c. economic profit is negative. d. economic profit is zero.