Would the owner of a profit-maximizing fast-food establishment hire another worker for $55 per day if that worker added faster service, increasing sales and revenue by $50 per day? Why or why not?
No, hiring this employee would lead to a reduction in profits by $5, adding more to overall costs than to revenues.
Economics
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The tools at the disposal of the Fed for changing the quantity of money do NOT include
A) open market operations. B) changing the required reserve ratio. C) changing discount rates. D) increasing the number of commercial banks.
Economics
Contractionary monetary policy causes a ________ the MP curve and a ________ the aggregate demand curve
A) movement to the right along; shift to the right of B) downward shift of; shift to the right of C) movement to the left along; movement up along D) upward shift of; shift to the left of
Economics