Market systems can be evaluated as efficient or inefficient, but not as fair or unfair
a. True
b. False
Indicate whether the statement is true or false
True
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What are the common characteristics of developing countries?
What will be an ideal response?
Refer to the table below. If Sweet Grams is a perfectly competitive firm and the market price $1.75 per unit, what is the profit-maximizing quantity for Sweet Grams to produce at Plant 1?
Sweet Grams makes graham cracker snack packages. Sweet Grams is a multi-plant firm with two production facilities. The above table summarizes the total marginal cost of production at various output levels in the separate plants. Assume Sweet Grams is a perfectly competitive firm.
A) 32,500
B) 36,000
C) 32,000
D) 30,100
The value of child-rearing and other household production are not included in GDP
a. True b. False Indicate whether the statement is true or false
A society's decision to produce more tanks may require it to forgo production of some cars
a. True b. False Indicate whether the statement is true or false