Increases in revenue will
A) increase economic profit
B) decrease economic profit
C) may or may not affect economic profit
D) leave economic profit unchanged.
C
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Firms in different countries that face different input prices may produce the same good using different combinations of inputs, even though they have access to the same technology
Indicate whether the statement is true or false
The cost of borrowing funds which is stated on a loan is the
A) prime interest rate. B) nominal interest rate. C) real interest rate. D) core PCE interest rate.
Exhibit 4-11 Data on supply and demand Bushels demandedper month Price perbushel Bushels suppliedper month 45 $5 77 50 4 73 56 3 68 61 2 61 67 1 57 In Exhibit 4-11, the equilibrium price per bushel of wheat is:
A. $1. B. $2. C. $3. D. $4.
Generally, if a nation produces more consumer goods than capital goods
A) more of all goods may be produced in the future. B) less of all goods may be produced in the future. C) about the same amount of capital goods may be produced in the future as are being produced today. D) society will have to forego future consumption of capital goods.