If a price taker in a competitive market is going to maximize profits, he must
a. increase the price of his product.
b. minimize his fixed costs of production.
c. minimize the per-unit cost of producing the good.
d. use the highest valued set of resources to produce his product.
C
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Businesses typically issue bonds to finance
A) their inventories. B) payments to their workers. C) spending on new plant and equipment. D) dividend payments to their stockholders.
Assume that U.S. agricultural land is used either to raise cotton for clothing or to grow wheat. Agricultural researchers develop a new wheat hybrid that is more resistant to drought and insects. What effect will this have on the production possibilities frontier for cotton and wheat?
a. maximum possible production of both cotton and wheat will rise b. maximum possible production of cotton will rise; maximum possible production of wheat will not change c. maximum possible production of wheat will rise; maximum possible production of cotton will not change d. maximum possible production of cotton will rise; maximum possible production of wheat will fall e. maximum possible production of wheat will rise; maximum possible production of cotton will fall
A survey done by the Bank of International Settlements found the _____________ market to be the largest market in the world economy.
a. online b. capital c. foreign exchange d. stock
The argument that each person should pay taxes according to how well the individual can shoulder the burden is called
a. the ability-to-pay principle. b. the equity principle. c. the benefits principle. d. regressive.