Management gets two numbers (price and quantity) from one decision because
A. the marginal utility of goods is fixed.
B. producers use both technical and financial information.
C. the demand curve consists of price and quantity pairs.
D. the average cost curve has only one low point.
Answer: C
You might also like to view...
The CPI in 1931 equaled 0.15. The CPI in 1932 equaled 0.14. The rate of inflation between 1931 and 1932 was ________ percent.
A. 1.4 B. -7.1 C. -6.7 D. 6.7
The workers in Adam Smith’s famous pin factory, who were proficient in pin production, faced the problem of
A. too many different tasks. B. becoming bored with their jobs. C. needing to exchange pins for other goods and services. D. not having too few pins to purchase other goods and services.
The indifference curves in the above figure could represent your indifference curves between
A) Coke and Pepsi, which you consider perfect substitutes. B) eyeglass frames and eyeglass lenses, which you think are perfect complements. C) hot dogs and textbooks, which you think are neither perfect substitutes nor perfect complements. D) none of the above.
The food stamp program was started to _____
a. increase demand for agricultural products b. reduce poverty c. provide better nutrition for low-income individuals d. a and c