An optimal decision is one that chooses
A. the most desirable alternative among the possibilities permitted by the resources available.
B. the lowest cost method of meeting goals, without regard to quality or any other feature.
C. among various possible goals and offends no one, so that all are equally happy.
D. among equally important goals, and thereby avoids the “indispensable necessity” syndrome.
E. among possible goals in such a way that spends as little money as possible.
Answer: A
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XYZ Corporation operates in a perfectly competitive market and is currently maximizing profit. To keep the firm's costs low, XYZ's managers have decided to dump waste in a nearby river
Explain why the level of output currently produced by XYZ is not efficient.
Which of the following would be included in the financial account of the U.S. balance of payments?
a. The U.S. government's foreign aid b. The purchase of a stock in a U.S. corporation by a foreigner c. The purchase of a Japanese computer by a U.S. corporation d. The purchase of a plane ticket from Australian Airlines by a U.S. resident e. The purchase of a German car by a U.S. resident
The people most likely to pay little personal income tax to the U.S. government are
A. the middle class. B. renters. C. the very poor. D. earners of wages (as opposed to salaries).
Refer to the table shown. The maximum profit that the perfectly competitive firm represented by the above data could earn is:QuantityTotal CostTotal Revenue10$255020601003010515040160200
A. $55. B. $45. C. $35. D. $25.