Competition forces firms to produce and sell products as long as the ________ to consumers exceeds the ________ of production
A) marginal benefit; marginal cost B) marginal cost; marginal benefit
C) marginal benefit; marginal benefit D) marginal cost; marginal cost
A
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Which of the following is the most likely reason for countries to engage in international trade based upon specialization of production?
A. Relative exchange rates B. Relative levels of GDP C. Relative inflation rates D. Comparative advantage
How does the liquidity approach to measuring the money supply differ from the transaction approach?
What will be an ideal response?
Which of the following bonds will have the highest yield-to-maturity if all three bonds appear identical to investors in terms of risk, liquidity, information costs, tax treatment?
A) one with a coupon of $50 B) one with a coupon of $100 C) one with a coupon of $200 D) none of the above
Irregular weather patterns caused very poor yields for orange farmers. Which factor of supply would this change in the market for orange juice?
A. Technology B. Price of input C. Number of sellers D. Price of related good