?The following figure shows the total cost and total revenue curves of a firm. The firm maximizes profit at an output represented by _____.
a. ?point c
b. ?point d
c. ?a point beyond point d
d. ?point a
e. ?point b
Answer: a. ?point c
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In a market economy, the goods produced go to those who(m): a. have sufficient income and are willing to pay the price asked for those goods. b. the government views as best suited for consumption
c. business firms choose to favor. d. desire the goods the least.
Which of the following events will most likely cause an increase in both the price level and real gross domestic product?
(a) The prime rate increases (b) Exports increase (c) Income taxes increase (d) Crude oil prices decrease (e) Inflationary expectations decrease
A firm's advertising can help rivals
A) if it focuses on a general problem that the product addresses. B) if it focuses on a secret ingredient that only this firm possesses. C) if rivals do not advertise. D) if rivals advertise.
What are the lags in fiscal policy that decrease its effectiveness?
a. recognition, execution, and legislative lags b. recognition, legislative, and completion lags c. implementation, legislative, and recognition lags d. implementation, recognition, and completion lags