A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because
a. it would not be maximizing output.
b. it would not be maximizing the productivity of labor.
c. it would not be minimizing costs.
d. it would not be maximizing profits.
d
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In an economy with no government and no international trade, consumption expenditures will be less than the total value of goods and services when
A) people save some of their income. B) people barter rather than use money in making exchanges. C) saving is zero. D) investment is zero.
The producer price index focuses on price changes of domestically produced goods and includes services, construction, and imported goods
Indicate whether the statement is true or false
Which of the following is not a type of "lock-in" that acts as a barrier to entry into a particular market?
A) Pricing at or below the average cost of production. B) Purchases of durable goods. C) Loyalty programs. D) Specialized suppliers.
Specific business practices such as price discrimination are prohibited by the:
A. Clayton Act of 1914. B. Sherman Act of 1890. C. Federal Trade Commission Act of 1914.