According to the optimal output rule, if marginal benefit:
a. exceeds marginal cost, an activity should be reduced.
b. is less than marginal cost, an activity should be increased.
c. is equal to marginal cost, net benefit is maximized.
d. exceeds marginal cost, net benefit is maximized.
c. is equal to marginal cost, net benefit is maximized.
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Technical superiority can be a source of entry barriers.
Answer the following statement true (T) or false (F)
Allocative efficienty exist when firms produce the output most preferred by consumers
a. True b. False
How much is the percentage of income received by the highest quintile on line R?
If you assume that the equation of exchange is a dependable economic model, then the Fed can control
A. real GDP. B. aggregate supply. C. nominal GDP. D. economic growth.