Both optimization in levels and optimization in differences:
A) consider only the benefits from different alternatives.
B) consider only the costs incurred in different alternatives.
C) provide identical answers when comparing two alternatives.
D) require the calculation of change in net benefits of switching from one alternative to another.
C
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Assume that a perfectly competitive firm hires workers from a perfectly competitive market for labor. The marginal product of a worker is 10 units per day
If the good that the worker produces is sold for $5, what is the maximum daily wage that should be offered to the worker?
Refer to Figure 15-6. The monopolist earns a profit of
A) $0. B) $170. C) $248. D) $372.
Macroeconomics focuses on a certain set of variables called
A) micros. B) marginals. C) partials. D) balances. E) aggregates.
The hospital insurance component of Medicare provides full coverage for extended time periods
Indicate whether the statement is true or false