Business's cost of changing prices is referred to as:
A) inflation tax. B) menu costs. C) intangible costs. D) shoeleather costs.
B
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One example of human capital is the amount of skills that you have
Indicate whether the statement is true or false
The likelihood of successful collective action:
A. can be lower for large groups. B. can be higher for large groups. C. can be lower for small groups. D. generally does not depend on the size of the group.
Assume a competitive price-searcher firm is earning an economic profit. The marginal revenue from selling an additional unit is $30 and the marginal cost of producing that additional unit is $23 . The firm should
a. change neither its price nor its output level b. reduce its price and increase its output level c. increase its price and reduce its output level d. reduce both its price and its output level e. increase both its price and its output level
Monopoly rights give inventors and entrepreneurs incentives to innovate and create new products and services.
Answer the following statement true (T) or false (F)