Firms seek to maximize:
A. per unit profit.
B. total revenue.
C. total profit.
D. market share.
Answer: C
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Firms that emit toxins into the air tend to
a. underproduce because the private cost of production exceeds the social cost b. overproduce because the social cost of production exceeds the private cost c. produce the same as nonpolluting firms d. produce at the socially optimal amount e. cover pollution costs in the product's price
The International Monetary Fund advised Russia to control inflation via an exchange rate anchor
a. True b. False
In the long run, monopolistically competitive firms produce where demand equals marginal cost
a. True b. False Indicate whether the statement is true or false
Refer to the accompanying table below. According to the Cost-Benefit Principle, how many units of this activity should be carried out?Units of ActivityTotal CostTotal Benefit0$0$01$30$1002$40$1603$60$1904$100$2105$150$2206$210$225
A. 6 B. 1 C. 4 D. 3