If Claeys, a candy-making firm that specializes in old-fashioned hard candies, chooses not to produce at a production level where its MR = MC, then it
a. is making as much profit as possible
b. will incur losses
c. cannot be earning a profit
d. should really shut down before it loses everything
e. is not earning maximum profit
E
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A cancer patient is told he needs chemotherapy in order to live three more years at best, but the patient's final three years will be filled with all the terrible side-effects of the treatment
Without it, he will surely die within a year, but his quality of life would be a better. Suppose he chooses to quit chemotherapy and instead he spends his time learning to play the cello, something he always wanted to learn. The economic way of thinking suggests A) others should consider playing the cello while they are still young and healthy. B) the doctors were absolutely right—the patient needs chemotherapy. C) the patient considers playing the cello a substitute for chemotherapy. D) the patient has clearly given up his will to live.
_________ is the Japanese word meaning death from over work
a. Karoshi b. Tora c. Samauri d. Santori
Which of the following is a part of your economics professor's human capital?
a. the things she learned at some prestigious university b. her copy of Mankiw's text c. her chalk holder d. All of the above are correct.
In a command economy, _____
a. buyers and sellers get together to make economic decisions about the four fundamental economic questions b. an exchange is made without any agreement on immediate or future rewards c. the government makes economic decisions about the four fundamental economic questions d. goods and services are directly exchanged for other goods or services