The most commonly accepted objective for a firm is
A. to minimize the variable cost outlay.
B. to maximize total revenue.
C. to maximize economic profit.
D. to stay in business at all cost.
Answer: C
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A merger will usually be challenged if which of the following is expected to occur as a result of the merger?
A) competition remains after the merger B) a price decrease C) a decrease in consumer surplus D) an increase in consumer surplus
Suppose that a worker in Country A can make either 10 iPods or 5 tablets each year. Country A has 100 workers. Suppose a worker in Country B can make either 2 iPods or 10 tablets each year. Country B has 200 workers. Country A would be using resources efficiently if it produced:
A. (500 iPods, 100 tablets). B. (500 iPods, 150 tablets). C. (500 iPods, 200 tablets). D. (500 iPods, 250 tablets).
Which of the following countries have experienced recession and high levels of unemployment related to their inability to control the growth of government and high levels of debt?
a. Greece. b. Portugal. c. Italy. d. all of the above.
Disposable personal income:
A. includes personal income taxes. B. excludes personal income taxes. C. excludes transfer payments. D. is income spent for personal items such as homes and cars.