With full information, any contract will lead to production efficiency
Indicate whether the statement is true or false
False. A hire or revenue sharing contract will not provide the incentives for the agent to maximize joint profit.
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When the ATC curve is falling, MC is ____________ ATC.
A. less than B. greater than C. equal to
?For firms operating in a perfectly competitive market, price must always be greater than marginal revenue.
Indicate whether the statement is true or false.
A higher deficit in the current year will lead to increased debt in the future only if
A) the deficit is greater than the previous year's deficit. B) the deficit-to-GDP ratio is greater than the debt-to-GDP ratio. C) it causes a drop in private saving. D) it causes an increase in private saving. E) none of the above
The quantity supplied of a particular good is the amount of the good that
A) households are willing to consume at each particular price. B) firms will actually end up buying at a particular price during a given time period. C) firms are willing to sell at each price during a particular time period. D) households want firms to sell at each price during a particular time period.