Because of a decrease in labor costs, a monopoly finds that its marginal cost and average total cost have decreased. The monopoly ________ its price and ________ its quantity
A) raises; increases
B) raises; decreases
C) lowers; increases
D) lowers; decreases
C
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Firm A can produce a unit of output with 10 hours of labor and 5 units of material. Firm B can produce a unit of output with 5 hours of labor and 10 units of material
Firm C can produce a unit of output with 10 hours of labor and 10 units of material. If the prices of labor and material are $10 per hour and $5 per unit, respectively, which of these firms is the most technologically efficient? A) firm A only B) firm B only C) firm C only D) Firms A and B could both be technologically efficient.
State at least two major benefits of promoting non-governmental organizations in developing countries as sources and conduits of foreign assistance
What will be an ideal response?