Suppose a firm acts to minimize the cost of producing 500 units of output and determines this cost to be $25,000. Then, if the firm acts to maximize output for a total cost of $25,000, the maximum output attainable is
A) 500.
B) less than 500.
C) more than 500.
D) unknown.
A
Economics
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If a household's income rises from $46,000 to $46,700 and its consumption spending rises from $35,800 to $36,400, then its: a. marginal propensity to consume is 0.86. b. marginal propensity to consume is 0.99. c. marginal propensity to consume is 0.98. d. marginal propensity to save is 0.01
e. marginal propensity to save is 0.86.
Economics
A positive statement is:
a. something good or desirable. b. a call for improvement. c. a statement of opinion. d. a statement testable by facts. e. a suggestion for policy.
Economics