The goal of the firm is
A) low labor turnover.
B) to maximize sales.
C) to minimize costs.
D) profit maximization.
Answer: D
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The demand for borrowed funds is
a. directly related to the interest rate. b. inversely related to the growth in gross domestic product. c. a derived demand. d. leads to derived demand for capital goods.
In general, a dry cleaner in a small town is ______________ likely to be unethical in his business practices than a dry cleaner in a large city. This is because the larger a percentage of the population one person is, the _____________likely that person will have to further engage with people he encounters
A) more; less B) less; less C) more; more D) less; more
Growth in GDP per capita is only possible if growth in _______ exceeds growth in _______.
A. Employment; output B. Output; prices C. Prices; employment D. Output; population
Jerry's Quarry sells building stone in a perfectly competitive market. At its current level of building stone production, Jerry's Quarry has marginal costs equal to $45, and AVC is rising. If the market price of building stone is $50, Jerry's Quarry should:
A. decrease its level of building stone production. B. continue producing its current level of production. C. increase its production of building stone. D. shut down and produce no building stone.