As a market-based society, non-profit firms are illegal in the U.S
Indicate whether the statement is true or false
false
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The law of diminishing marginal returns
A) implies that the marginal product of labor must fall. B) requires using superior technology to increase output. C) means that total output will always fall. D) None of the above.
Using only marginal revenue and marginal cost, we can determine whether a firm is incurring a profit or a loss.
Answer the following statement true (T) or false (F)
Pollution reduction policies are likely to lead to: a. higher product prices
b. lower product prices. c. unchanged product prices. d. indeterminate changes in product prices.
An advantage of fixed exchange rates for a country that suffers from bouts of high inflation is:
A. it makes imports less expensive. B. it unties policymakers' hands so they can alter the reserves of the banking system as needed. C. policymakers will have increased control over domestic interest rates. D. it establishes a credible low inflation policy.