What is the domestic exchange equation of Italy?
3 art books = 1 camera
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A logarithmic variable cost function implies that
A) marginal cost is increasing at a decreasing rate. B) marginal cost is increasing at an increasing rate. C) marginal cost is constant. D) marginal cost is decreasing as quantity increases.
Perfectly competitive markets are characterized by: a. rivalry in product design
b. competition in terms of product quality. c. attempts by sellers to outdo one another with good service. d. none of the above.
A decrease in the wage rate will change
A. the price the firm charges for the product, but it will not affect the demand for any of the inputs. B. the amount of labor employed, and it may also change the amount of other inputs employed. C. only the amount of labor hired. D. the firm's profit-maximizing level output, but not its usage of inputs.
________ monetary policy causes the real interest rate to ________
A) Expansionary; remain unchanged B) Contractionary; remain unchanged C) Expansionary; rise D) Contractionary; rise