If the firm is maximizing profits or minimizing losses, it is producing ______ units of output and charging a price of _______.
A. 280; $12.00
B. 280; $10.40
C. 200; $7.00
D. 200; $12.80
D. 200; $12.80
You might also like to view...
Typically, the unemployment rate ________ during a recession and ________ during an expansion.
A. rises; does not change B. rises; falls C. rises; rises even more D. falls; rises
The main source of economies of scale is
A) better management. B) constant returns to plant size. C) specialization. D) long-run cost curves eventually sloping downward. E) increases in the labor force not matched by increases in the plant size.
In the United States, the wealthiest 10 percent of households earns approximately what share of total income?
A. 5% B. 80% C. 30% D. 10% E. 50%
Answer the following questions true (T) or false (F)
1. Explicit costs are nonmonetary costs. 2. An increase in liabilities will reduce a firm's net worth. 3. A firm's net income is also its accounting profit.