A profit-maximizing price searcher will expand output to the point where
a. total revenue equals total cost.
b. marginal revenue equals marginal cost.
c. price equals average total cost.
d. price equals marginal cost.
B
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The theory of portfolio choice indicates that higher interest rates make money ________ desirable, and the demand for real money balances ________
A) less; falls B) more; falls C) less; rises D) more; rises
To secure a charter, the deciding bodies required which of the following from the business enterprises?
(a) A statement of business purpose and location (b) A business plan (c) A description of capital and labor requirements and expectations (d) All of the above
Private costs of an economic activity exceed social cost when external benefits are created
a. True b. False Indicate whether the statement is true or false
Scalping is likely to appear when a price is set below equilibrium price by the seller.
Answer the following statement true (T) or false (F)