If a household's opportunity cost of performing a task is above the market price, then household usually performs that task
Indicate whether the statement is true or false
false
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An international organization providing low-cost loans and grants to developing nations is the
a. International Monetary Fund. b. Group of Seven. c. World Bank. d. United Nations.
Factors of production are
a. the mathematical calculations firms make in determining their optimal production levels. b. social and political conditions that affect production. c. the physical relationships between economic inputs and outputs. d. inputs into the production process.
Refer to the table above.below. At a price of $3, the total revenues of sellers will be:
Answer the question based on the following table which shows a demand schedule.
A. $18
B. $12
C. $45
D. $5
All else equal, as the price of a product falls, the quantity supplied decreases
Indicate whether the statement is true or false