A country cannot achieve economic growth with a limited base of natural resources.
Indicate whether the statement is true or false.
Answer: False
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“As long as total revenue slopes up, marginal revenue must slope up also.” Explain whether this statement is true or false.
What will be an ideal response?
Which of the following statements is true about Tyson Foods, Inc?
a. The company has faced synchronized movements in the prices of its inputs in the recent past. b. Tyson has been able to keep its chicken prices more or less stable over the last five years because the prices of its major inputs have not fluctuated too much. c. The company restructured itself to deal with the more complex risks associated with the business today. d. Tyson assigned responsibilities of risk management to employees familiar with the different commodities it handled in order to establish a self-contained unit.
It is conceivable that the APC, APS, MPC, and MPS could simultaneously be
A. APC = 0.8; APS = 0.2; MPC = 1.1; MPS = 0.1. B. APC = 1.0; APS = 0; MPC = 0.15; MPS = 0.15. C. APC = 1.3; APS = -0.3; MPC = 0.8; MPS = 0.2. D. APC = 1.0; APS = 0.1; MPC = 0.85; MPS = 0.25.
A monopolist is producing at an output level at which MR = $9 and MC = $8. It could increase profits
A) by increasing both output and price. B) by reducing output and by increasing price. C) by reducing both output and price. D) by increasing output and by reducing price.