In the long run the perfect competitor's firm's most efficient output
A. is identical to its most profitable output.
B. is less than its most profitable output.
C. is more than its most profitable output.
A. is identical to its most profitable output.
Economics
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If Md = 1,000 – 400r and Ms = 2,000, the MPC = .85, G=100, and T = 120, then the equilibrium interest rate is
a. 2.5 b. 5 c. 10 d. 20 e. not enough information was given.
Economics
If the average product of labor equals the marginal product of labor, then
A) the average product of labor is at a maximum. B) the marginal product of labor is at a maximum. C) Both A and B above. D) Neither A nor B above.
Economics