Economic theory assumes that the goal of firms is to maximize

a. sales
b. total revenue
c. profit
d. price
e. utility


C

Economics

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A sum of money received at a future date is worth less than the same sum of money received today. Why? Explain this with an example.

What will be an ideal response?

Economics

Liabilities of the commercial banking system include

A. reserves and loans. B. reserves and deposits. C. loans and deposits. D. deposits.

Economics

Refer to Figure 5-2. The private profit-maximizing quantity for the firm is

A) Qa. B) Qb - Qd. C) Qb. D) Qd.

Economics

Demand and supply can also be used to explain how economic events will cause ___________ in prices, wages, and rates of return.

a. changes b. freezes c. barriers d. locking

Economics