If a firm wants to maximize profits, it should hire workers up to the point at which
A. marginal factor cost = marginal revenue product.
B. total factor cost = total revenue.
C. marginal utility = marginal cost.
D. total social benefit = total social costs.
Answer: A
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Explain why procurement is such a problematic area for the military
What issues somewhat unique to the military make it necessary to utilize a variety of different procurement contract in order to attempt to get the correct output delivered at the lowest possible price? List four general types of procurement contracts.
Which of the duopoly models has the lowest overall combined profit level?
A. The Bertrand model B. The shared monopoly model C. The Cournot model D. The Stackelberg Leader-Follower model
In the figure above, the poorest 40 percent of households receive ________ of total income
A) 20 percent B) 10 percent C) 30 percent D) 15 percent
If $1 U.S. was equivalent to 112 Japanese yen in 2008 and 83 Japanese yen in 2009, it implies that the: a. U.S. dollar depreciated against the yen in 2009
b. U.S. dollar appreciated against the yen in 2009. c. Japanese yen depreciated against the U.S. dollar in 2009. d. Japanese yen weakened against the U.S. dollar in 2009.