A) Canada
B) France
C) United States
D) Japan
B) France
C) United States
D) Japan
When a firm is operating at an output rate at which total revenue equal total costs, this is called
A. its shutdown point.
B. its breakeven point.
C. a loss.
D. a short-run profit.
Answer: B
Economics
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In a properly functioning economy, money costs approximate opportunity costs.
Answer the following statement true (T) or false (F)
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The demand for a monopoly's output is p = 100 - Q. The firm's production function is Q = 2L. Which of the following is the firm's demand for labor?
A) w = 200 - 8L B) w = 200 - 4L C) w = 100 - L D) w = 2L
Economics
Which country has the highest per capita health care expenditures in the world?
Economics
The main idea of demand is that
A. sales increase at lower prices. B. price does not affect sales. C. medical products should be free. D. sales do not vary if prices change.
Economics