Productive efficiency refers to:
A. maximizing profits by producing where MR = MC.
B. production, where P = MC.
C. setting TR = TC.
D. cost minimization, where P = minimum ATC.
Answer: D
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Which of the following would cause the demand for computer programmers to increase?
a. a decline in the productivity of computer programmers b. an increase in the productivity of computer programmers c. an increase in the wages of computer programmers due to legislative action (that is, the establishment of a price floor for computer programmers) d. a reduction in the price of a competitive input that can be substituted for computer programmers
If the inflation rate falls fro 4% i 2005 to 2% in 2006, then
What will be an ideal response?
What is the equilibrium price and quantity under a monopsony?
a. P = 200 and Q = 20 b. P = 240 and Q = 20 c. P = 260 and Q = 24 d. P = 280 and Q = 26
Wealth
A. is a flow and not a stock. B. is the same as income. C. does not include tangible objects. D. includes assets such as houses, stocks, and bonds.