Mr. Peabody chooses to invest in companies that produce goods and services at the lowest possible cost. Mr. Peabody is investing in companies that are
A) guaranteed to make a profit. B) productively efficient.
C) allocatively efficient. D) all of the above
B
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The Todaro model suggests that rural urban migration depends on
a. the gap between rural and urban wages b. the gap between rural and urban wages modified by the likelihood of obtaining a job in the city c. the gap between rural and urban wages modified by the likelihood of having a family member alreadyin the city d. the gap between rural and urban wages modified by government-provided employment possibilities inthe city e. none of the above
If the government is successful in cutting the economic pie into more equal slices, than it is quite possible that a. the pie gets larger
b. the pie gets smaller. c. it increases the reward for working hard, resulting in people producing more goods and services. d. none of the above.