One reason why it is very difficult to write optimal military procurement contracts is because _____

a. there are numerous possible producers
b. the military purchases many goods
c. new technology often has to be developed
d. there are many possible consumers of the product


c

Economics

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What will be an ideal response?

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The term "human capital" refers to how many people must work to produce a product

a. True b. False Indicate whether the statement is true or false

Economics

Bundles that lie above the indifference curve are preferred to bundles that lie below. This is an example of

A. completeness. B. transitivity. C. more is better. D. convexity.

Economics

Use the table below to answer the next question for a perfectly competitive firm.OutputTotal RevenueTotal Cost0$0$501407428094312011741601425200172The marginal revenue generated from the third unit of output is

A. $160. B. $120. C. $40. D. $50.

Economics