Suppose that an economy produces 2400 units of output, employing the 60 units of input, and the price of the input is $30 per unit.
Refer to the information above. The per-unit cost of production is:
A. $0.25
B. $0.50
C. $0.75
D. $2.00
C. $0.75
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To remain competitive today, many companies commit themselves to:
a. continuous improvement processes b. competitive strategic analysis by outside experts c. episodes of strategic planning d. a and c e. b and c
The law of demand states that, other things equal, when the price of a good
a. falls, the demand for the good rises. b. rises, the quantity demanded of the good rises. c. rises, the demand for the good falls. d. falls, the quantity demanded of the good rises.
Leaders that centralize power and decisions in themselves
a. autocratic b. laissez-faire c. democratic d. trait
An economy with an expansionary gap will, in the absence of stabilization policy, eventually experience a(n) ________ in the inflation rate, leading to a(n) ________ in output.
A. decrease; increase B. increase; decrease C. increase; increase D. decrease; decrease