The most important goal of the firm is to
A) maximize its revenues.
B) maximize its sales volume.
C) maximize its profits.
D) minimize its costs.
C
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Which of the following is not a thrift institution?
a. A savings and loan association b. A commercial bank c. A mutual savings bank d. An employee credit union e. A college credit union
If doubling the quantity of inputs more than doubles the quantity of outputs, the firm is experiencing
a. increasing returns to scale. b. decreasing returns to scale. c. constant returns to scale. d. increasing costs per unit of output.
A monopoly producing a chip at a marginal cost of $6 per unit faces a demand elasticity of ?2.5. Which price should it charge to optimize its profits?
A. $10 per unit B. $6 per unit C. $8 per unit D. $12 per unit
Ajax Corporation has just decided to let managers work from home one day a week. This decision will make working conditions better and will
A) cause the demand curve for labor for managers to increase. B) increase the elasticity of demand for labor for managers. C) lead to an increase in the supply curve of labor for managers. D) leave the supply curve of labor unchanged.