The above table has the total revenue and total cost schedule for Omar, a perfectly competitive grower of rutabagas. Omar's total profit is maximized when he produces ________ bushels of rutabagas
A) 3
B) 5
C) 6
D) 8
E) 7
B
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Takeovers and takeover attempts waste valuable capital.
Answer the following statement true (T) or false (F)
Assume a factory that currently employs 25 workers and owns a factory with 10,000 square feet of floor space is considering doubling the size of its factory. Economists would classify this as:
A) a short-run decision. B) a long-run decision. C) neither a short-run nor a long-run decision. D) both a short-run and a long-run decision.
If S = 300, T = 800, G = 1100, and I = 150, this makes net foreign investment
A) 150. B) -150. C) 450. D) 750. E) -450.
Policymakers should be aggressive in using their powers to place limits on firm behavior, because business practices that appear to reduce competition never have any legitimate purposes
a. True b. False Indicate whether the statement is true or false