Society will produce the efficient mix of output if all firms equate
A. price and average total cost.
B. marginal cost and average total cost.
C. price and marginal revenue.
D. price and marginal cost.
Answer: D
You might also like to view...
Which of the following has been the largest contributor to increases in the quantity of labor in the Unites States during the past 50 years?
A) The proportion of women taking paid jobs has increased. B) The proportion of young adults entering college has decreased. C) The proportion of seniors taking early retirement has decreased. D) The proportion of men taking paid jobs has increased. E) None of the above because the quantity of labor has actually decreased.
The restricted opportunity cause of poverty is due to government destroying incentives
Indicate whether the statement is true or false
If Amber is willing to work additional hours if her wage rate increases, the substitution effect must outweigh the income effect.
Answer the following statement true (T) or false (F)
The government will conduct expansionary fiscal policy if it attempts to
A. reduce real GDP. B. reduce the price level. C. shift the aggregate demand curve to the left. D. reduce the level of unemployment.