A free good (price = $0) will be consumed up to the point at which its marginal utility is zero
a. True
b. False
A
Economics
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A perfectly competitive firm will have an economic profit of zero if, at its profit-maximizing output, its marginal revenue equals its
A) average total cost. B) marginal cost. C) average variable cost. D) average fixed cost.
Economics
Returns to investments in human capital can be calculated with great accuracy.
A. True B. False C. Uncertain
Economics
If the dollar appreciates, American consumers will buy more foreign goods and services
a. True b. False Indicate whether the statement is true or false
Economics
The decision to enter or exit an industry is known as the
A. Production decision. B. Profit maximization decision. C. Investment decision. D. Output decision.
Economics