For a firm to be economically efficient from society's point of view, it should produce to the point at which
A) marginal cost equals marginal revenue.
B) marginal cost equals average total cost.
C) marginal cost equals price.
D) average total cost equals price.
C
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U.S. financial crises begin in a period of ________
A) rising incomes B) adverse selection C) rising uncertainty D) moral hazard
Showing up to a job interview and not knowing any information about the company is an example of a:
A. negative screen. B. positive screen. C. positive signal. D. negative signal.
Which of the following is NOT a true statement about U.S. exports?
A) Services have become more important part of exports. B) The U.S. is the world's second-largest exporter of goods. C) Three-fourths of U.S. merchandise exports are manufactured goods. D) The manufacturing sector in the U.S. is no longer significant.
When the price of computer printers decreased from $100 to $85, the number of computer printers produced fell from 1,000 per week to 850 per week. Using this information, we know the supply of computer printers is
A. elastic. B. perfectly inelastic. C. inelastic. D. unit elastic.