A perfectly competitive firm is hiring variable resources M and N. It will minimize total costs
A) MRPm/MFCm = MRPn/MFCn.
B) MRPm ? MFCm = MRPn ? MFCn.
C) Pm/MPPm = Pn/MPPn.
D) MPPm/Pm = MPPn/Pn.
D
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Suppose a paper mill earns $1,000,000 in profits when it pollutes a river, and it can abate pollution at a cost of $A. The effects of the pollution are confined to a single farmer who earns $400,000 if the water he uses from the river is clean and $300,000 if it's polluted. What is the combined profit of both firms without abatement?
A. $1,300,000 B. $900,000 C. $700,000 D. $1,400,000
Which of the following is an example of a public good?
A) a box of bath tissues B) a public bus C) an ice cream cone D) street signs
A college student is thinking about running an ice-cream truck over the summer. Which of the following would likely be an ongoing expense of the business?
A. The cost of the truck B. The cost of the gasoline used C. The cost of ice cream scoopers D. None of these is an ongoing expense.
If the Fed wants to increase the money supply, it can __________ the required reserve ratio, conduct an open market __________, or __________the discount rate
A) lower; sale; raise B) lower; purchase; raise C) lower; purchase; lower D) raise; sale; lower E) raise; purchase; raise