To maximize your financial well-being, you should:
As president and owner of the Sour Grapes Lemonade Company, you know that you face:
A. Continue to operate in the short run because rent is less than sales
B. Shut down because variable costs exceed fixed costs
C. Shut down because the company is losing money
D. Continue operating in the short run
D. Continue operating in the short run
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Which of the following statements is true?
A) An optimizing individual is also likely to exhibit rationality. B) Optimization requires individuals to foresee the future perfectly. C) The less information that is available, the easier it is to make optimal decisions. D) An optimizing individual need not consider the risks involved in various choices.
Robert Nozick asserts that fairness and efficiency result if
A) there are price ceilings in the market. B) there are external benefits and external costs in the market. C) voluntary exchange occurs. D) public goods are provided by government.
Workers in a labor union typically are paid less than workers not in a labor union
a. True b. False Indicate whether the statement is true or false
A country that increased its literacy rate and thereby its average human capital would probably
A. Increase GDP. B. Have not impact on GDP. C. Decrease GDP. D. None of the choices are correct.