Technological efficiency is
A) a necessary and sufficient condition for profit maximization.
B) a sufficient but not necessary condition for profit maximization.
C) a necessary but not sufficient condition for profit maximization.
D) a theoretical construct with little connection to the real world.
C
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As interest rates increase, the quantity of loanable funds that are supplied to the loanable funds market
a. increases because people will be attracted by the higher rate of interest b. decreases because businesses borrow less c. increases because businesses borrow less d. decreases because people save less e. decreases because people will be attracted by the higher rate of interest
When the price of corn dogs is $0.50, 10,000 corn dogs are demanded. When the price of corn dogs is $1.20, 5,000 are demanded. What is the price elasticity of demand for corn dogs?
A. -1.40 B. -0.81 C. -0.40 D. -1.20
Suppose Russia can produce automobiles relatively cheaply, but they have poor gas mileage and create a great deal of air pollution. The U.S. government, concerned about the quality of air, would like to see fewer Russian automobiles and more cleaner-running American automobiles on the road.a. What is the nature of the market failure that would justify the U.S. government taking some action against the importation of Russian automobiles?b. Explain why imposing a tariff is a second-best policy to employ in this case and what policy choice would be more efficient.
What will be an ideal response?
If inflation and unemployment is rising at the same time, then this is most likely the result of a shift
a. downward in the aggregate demand schedule. b. upward in the aggregate demand schedule. c. downward in the aggregate supply schedule. d. upward in the aggregate supply schedule. e. none of the above can explain this