whoever does it the cheapest
What will be an ideal response?
lowest opportunity cost
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According to the law of supply, when the price of a good increases we would predict that: a. less will be produced
b. less will be consumed. c. more will be produced. d. more will be consumed.
If a bank receiving a new deposit of $200,000 would be able, as a result, to increase their lending by at most $120,000, then the required reserve ratio equals: a. 4%
b. 25%. c. 40%. d. 50%.
The money stock in the economy is a. the amount of wealth accumulating in the economy, such as currency and demand deposits
b. the amount of wealth accumulating in the economy, such as money market mutual funds and stocks. c. the quantity of money circulating in the economy, such as currency and demand deposits. d. the quantity of money circulating in the economy, such as money market mutual funds and stocks.
When average variable cost is rising ______.
a. the average total cost curve must be moving downward b. the point of increasing marginal utility has set in c. the average fixed cost curve crosses it at its highest point d. marginal cost must be higher than the average variable cost