Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $15, the firm will
A) shut down.
B) leave the market in the long run.
C) stay in the market in the long run.
D) make an economic profit.
C
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Investment is a(n) ____ and capital is a(n) ____ variable
a. physical, financial b. stock, flow c. asset, liability d. flow, stock
Refer to the accompanying table. If the price of Good A is $5 and the price of Good B is $4, then the rational spending rule is satisfied when the consumer purchases ________ units of Good A and ________ units of Good B.UnitsMarginal Utilityof Good AMarginal Utilityof Good B1304022733315244814
A. 4; 2 B. 3; 3 C. 3; 2 D. 1; 3
Human effort that can be applied in the production process is called:
A) natural resources. B) technology. C) labor. D) specialization.
The law of comparative advantage states that
A. countries grow fastest if exports exceed imports, with payment surpluses being received in gold. B. mutually beneficial trade can always take place between two countries whose pre-trade relative opportunity costs differ. C. two countries can both gain from trade only when they have very different tastes and preferences. D. trade benefits a country only if it has comparative advantages in all goods and services.