Entrepreneurs are vitally important for economic progress because they
What will be an ideal response?
innovate and discover new ways of bringing items of value to consumers willing to pay for them.
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If the country wanted to produce the maximum total number of units of guns and butter combined, it would produce at point(s) ________________.
________ unemployment occurs naturally in the labor market as workers search for jobs
A) Cyclical B) Frictional C) Structural D) Inflationary
Using the data in the above table, what is the value of national saving?
A) $1,202 billion B) $2,837 billion C) $1,053 billion D) -$85 billion
Refer to the data provided in Table 9.4 below to answer the question(s) that follow. Table 9.4qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 11004014040 40 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.42Refer to Table 9.4. At a market price of $56, if the firm produces where MR = MC, then it would produce ________ units of output and earn an economic profit of ________.
A. 5; $0 B. either 4 or 5; $0 C. 0; -$100 D. 4; $0