In economics, a firm earns a normal profit when its total revenue equals its total economic costs.
Answer the following statement true (T) or false (F)
True
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The Congressional Budget Office estimates that most of the increase in federal spending on Medicare and Medicaid will be due to
A) increases in immigration. B) the aging population. C) declining income levels. D) increases in the cost of providing health care.
If marginal product rises, then marginal costs rise
Indicate whether the statement is true or false
Estate taxes are paid by the heirs of an estate when the estate is valued over a certain amount
a. True b. False Indicate whether the statement is true or false
A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness
A. versatility and flexibility. B. rationality. C. pleasure or satisfaction. D. purposefulness.