When the economy is going strong:
A. firms expand their operations.
B. demand for workers decreases.
C. GDP growth is negative.
D. firms tend to lay off workers.
A. firms expand their operations.
You might also like to view...
Refer to the figure above. What is the change in total revenue due to a price increase from $3 to $5?
A) The total revenue increases by $100. B) The total revenue decreases by $100. C) The total revenue increases by $200. D) The total revenue decreases by $200.
The figure above shows the marginal revenue and costs of a perfectly competitive firm. The firm's profit is maximized when the firm produces
A) 90 units of output. B) 130 units of output. C) 170 units of output. D) 210 units of output.
Economic freedom:
a. is the right to own property. b. means not having to pay taxes. c. is absent in rich countries. d. affects only poor people. e. is the ability to engage in voluntary trade.
Given the table below, what is the short-run profit-maximizing level of output for the firm?OutputTotal RevenueTotal Cost1$4$22833126416952014
A. 5 units B. 4 units C. 2 units D. 3 units