Suppose that a company produces at a point where its MR is $430 and its MC is $105, this implies that
a. the firm earns a total profit of $325 at that output level
b. the firm’s total costs are rising faster than its total revenue
c. the firm’s total profit is rising, suggesting that the firm should expand production
d. each unit of output generates an average profit of $325
c. the firm’s total profit is rising, suggesting that the firm should expand production
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Taxes are the only mechanism by which the federal government earns money
Indicate whether the statement is true or false
The domestic currency of a country depreciates in value when: a. there is an increase in the foreign currency price of the domestic currency. b. its value falls in relation to another currency
c. the government of the country revaluates the domestic currency. d. its value rises in relation to another currency. e. there is a fall in the domestic demand for foreign currency.
Which of the following is true?
a. The Great Depression re-enforces the view that raising taxes in the midst of a severe recession is a bad idea. b. The Great Depression clearly indicates that a prolonged period of monetary contraction will keep inflation low and promote monetary stability. c. The Great Depression illustrates that trade restrictions will protect domestic industry and save jobs. d. The Great Depression demonstrates that the political incentive structure during a severe downturn will encourage politicians to avoid frequent policy changes.
Universal service may require making a service available in small communities where the limited scale of operations may make costs extremely high.
Answer the following statement true (T) or false (F)