"Net revenue" is maximized by selling every unit for until marginal revenue
What will be an ideal response?
exceeds marginal cost.
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An increase in the rate of economic growth curve could be caused by all of the following except
A. a national tax that encourages all employers to provide more training and education for employees which leads to an across-the-board upgrade of the skill level of the nation's workforce. B. a movement along the production possibilities curve so that the society produces more consumer goods and less capital goods. C. an increase in immigration that increases the country's labor force by 20 percent. D. an increase in research and development spending for space technology that improves the quality of the nation's capital stock.
Suppose that many corporations begin issuing new bonds. Everything else being equal, what is most likely to happen to the interest rate?
A. It will increase. B. It will decrease. C. It will not change. D. It will vary according to a random walk.
In the context of a production function, the remote order takers in the fast food industry would be classified as:
A) a fixed input. B) a marginal input. C) a variable input. D) an inframarginal input.
The Commons Problem arises because
A) firms don't maximize profits. B) social and private incentives are not aligned and property rights are missing. C) social cost equals private cost and property rights are missing. D) social benefit equals private benefit and property rights are missing.