A firm will hire additional units of any input up to the point where:
a. the marginal productivity of the input is maximized.
b. the marginal cost of employing the input is minimized.
c. the expense of employing the last unit is equal to the revenue brought in by the last unit.
d. the revenue brought in by the input is maximized.
c
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If the absolute value of the slope of the demand curve is 0.25, price is $8 per unit, and quantity demanded is 12 units, then demand for this good is:
A. elastic. B. inelastic. C. perfectly elastic. D. unit elastic.
Using the information in the table above, calculate the government's budget deficit or surplus
A) $2 B) -$4 C) -$10 D) $4
Savings is considered the portion of income:
A. that is not immediately spent on consumption of goods and services. B. that is spent on productive inputs, such as factories, machinery, and inventories. C. that is placed in an individual's savings account. D. in any interest-bearing account.
Both Google and Facebook make their money by charging advertisers to run their ads, and the bigger an audience they have, the more they can charge.
Answer the following statement true (T) or false (F)