If the marginal benefit from another computer exceeds the marginal cost of the computer, then to use resources allocatively efficiently
A) more resources should be used to produce computers.
B) fewer resources should be used to produce computers.
C) if the marginal benefit exceeds the marginal cost by as much as possible, the efficient amount of resources are being used to produce computers.
D) None of the above is correct because marginal benefit and marginal cost have nothing to do with using resources allocatively efficiently.
A
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Explain how an increase in the public's taste towards less leisure would affect the labor market, the production function, and aggregate output. Provide graphs to illustrate
What will be an ideal response?
The federal agency that regulates the New York Stock Exchange is the
a. Securities and Exchange Commission b. Department of Justice c. Department of Commerce d. Federal Reserve Board e. Department of the Treasury
A labor-intensive production process is one that
A. Has a low ratio of capital to labor. B. Has a low ratio of labor to capital. C. Is used only in the United States. D. All of the choices are correct.
Unanticipated positive inflation will create
A. gains for both creditors and debtors. B. losses for both creditors and debtors. C. gains for creditors and losses for debtors. D. losses for creditors and gains for debtors.