The firm manager with indifference curves which are convex from the origin (output on the horizontal axis and profit on the vertical axis) views:
A. both profits and outputs to be "goods."
B. only outputs to be "goods."
C. only profits to be "goods."
D. None of the statements is correct.
Answer: A
You might also like to view...
According to the Application, recent reforms in Cuba have relied less on the free market in determining prices in the housing market
Indicate whether the statement is true or false
Refer to Figure 4.5. If you know that at least 8 students will choose Solid, you should choose
A) Solid. B) Dash. C) either Solid or Dash, as your payout will be the same either way. D) You need to know what the 9th student will choose before you will know your best choice.
The production possibilities curve marks the boundary between attainable and unattainable combinations of output
a. True b. False Indicate whether the statement is true or false
SNAP (food stamps) and Medicaid are examples of:
A. money transfers B. resource earnings C. in-kind transfers D. tax expenditures