This profit-maximizing (loss-minimizing) firm produces a quantity of about _______ units.
A. 100
B. 80
C. 50
D. 30
B. 80
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Why is money as a medium of exchange important in an economy?
What will be an ideal response?
Inflation at a rate that exceeds 50 percent per month is called
A) megainflation. B) hyperinflation. C) super inflation. D) extreme inflation. E) skyflation.
If a positive externality is associated with the purchase of smoke detectors:
A. the marginal social benefit of smoke detectors exceeds their price. B. more than the efficient quantity of smoke detectors will be sold. C. the marginal social benefit of smoke detectors equals their price. D. the marginal social benefit of smoke detectors is zero.
The smaller the percentage of people who work, the
A. lower the actual output per capita. B. lower the potential output per capita. C. higher the actual output per capita. D. higher the potential output per capita.