What three pieces of information do firms need to know to make production decisions?
What will be an ideal response?
(1.) The market price of the output.
(2.) The techniques of production which are available.
(3.) The prices of inputs.
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Data show that in 2012, the college enrollment in Lithasia increased. In the same year, the sale of hotdogs in Lithasia also increased. The relationship between college enrollment and the sale of hotdogs exhibits:
A) a negative correlation. B) a zero correlation. C) a positive correlation. D) a causal relationshi
________ is the market value of production generated by the factors of production possessed or owned by the residents of a particular nation
A) Gross domestic product B) Total Market Value C) Gross National Product D) Net domestic product
What is meant by optimization? How does optimization by levels differ from optimization by differences?
What will be an ideal response?
Which of the following countries fell victim to contagion during the Asian financial crisis?
A. Indonesia, Malaysia, and the Philippines B. Malaysia, South Korea, and Taiwan C. Malaysia, the Philippines, and Taiwan D. All of these countries were hurt during the crisis.