When the total external and internal costs of a transaction are taken into consideration, this is known as

A) public costs.
B) average total costs.
C) social costs.
D) marginal costs.


C

Economics

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In the above figure, when the interest rate is 8 percent and household income is $40,000, household consumption is

A) $0. B) $20,000. C) $35.000. D) $60,000.

Economics

The more complicated a task, the greater the ability to economize on ________ through specialization and centralized control

a. transaction costs b. marginal cost c. sunk cost d. fixed cost

Economics

Refer to Figure 8.9. If the market price of hay falls to $18, then to maximize profits this farmer should produce A) 350 bales of hay. B) 500 bales of hay. C) 750 bales of hay. D) a level of output that is indeterminate from this information

Economics

Which would increase aggregate supply?

a. A decline in productivity b. An increase in business regulation c. A decrease in the capital stock d. Lower business taxes

Economics