Productive efficiency refers to long-run market conditions where marginal cost is equal to marginal revenue.
Answer the following statement true (T) or false (F)
False
You might also like to view...
Suppose a jar of DeLux popcorn that is ultimately sold to a customer at Friendly Groceries is produced by the following production process: Name of CompanyRevenuesCost of Purchased inputsFulton Family Farm$0.500DeLux Popcorn Co.$2.50$.50Friendly Groceries$4.00$2.50If the corn was grown and the jar of popcorn produced in the year 2015, but the jar was sold at Friendly Groceries in the year 2016, what is the contribution of these transactions to GDP in the year 2015?
A. $3.00 B. $0.50 C. $2.50 D. $2.00
Tom and Jerry are the only members of society. The table above shows their marginal benefits from defense satellites, a public good. If the marginal social cost of a satellite is $95, the efficient quantity of satellites is
A) 0. B) 1. C) 2. D) 3.
Firm A, a small ancillary firm, needs funds to purchase new machinery for its factory. The best way the firm can raise funds is: a. by taking credit from a credit union. b. by issuing stocks
c. by issuing bonds. d. by taking out a bank loan.
The congressional act passed in 1978 that established specific numerical goals for the unemployment rate and the inflation rate to be achieved by 1983 was the
A) Federal Reserve Act. B) Gramm-Rudman Act. C) Employment Act. D) Humphrey-Hawkins Act.