Refer to the data. In view of the indicated resource prices, the economically most efficient production technique(s) is (are) technique(s):
Answer the question using the following data, which show all available techniques for producing 20 units of a particular commodity:
A. #1.
B. #2 and #4.
C. #3.
D. #1 and #3.
B. #2 and #4.
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Macroeconomics is the branch of economics that concerns
a. the behavior of individual actors in the economy b. output in a specific industry c. the overall health of the economy d. the federal government only e. prices in a specific industry
Which one of the following would not affect the position of the supply curve for cranberries?
A. the popularity of cranberry drinks B. the cost of fertilizers for cranberry production C. the number of sellers in the market D. development of a new pest control for cranberries
In a perfectly competitive market, there are ________ buyers and ________ sellers
A) many; few B) few; many C) many; many D) few; few
Externalities consist of ____________________.
A. Only external costs B. Only external benefits C. Both external costs and external benefits D. None of these answers are correct.