To maximize profit, a firm hires the quantity of labor that makes the ________ of labor equal to the ________
A) value of marginal product; wage rate
B) total revenue; total cost of labor
C) marginal product; total cost of labor
D) marginal product; marginal revenue
A
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The vertical distance between the total cost curve and the total variable cost curve ________ as output increases and the vertical distance between the average total cost curve and average variable cost curve ________ as output increases
A) is constant; decreases B) decreases; is constant C) increases; decreases D) decreases; increases E) decreases; decreases
Why is the credit spread countercyclical and coincident?
What will be an ideal response?
In general, supply curves slope upward because:
a. increases in the price of a good result in lower opportunity costs. b. rising prices provide producers with a greater profit incentive. c. consumers buy a greater quantity. d. technology improves the ability of firms to produce more at each possible price.
In 2002, what country’s banking system went bankrupt because of a sharp depreciation of its exchange rate?
a. Chile b. Malaysia c. Argentina d. United States