The price of input goods changes due to _____________ or _______________ for that particular good.
Fill in the blank(s) with the appropriate word(s).
Answer: outside effects, underlying market forces
Economics
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Assume that a very unusual production process involves increasing marginal productivity that appears to have no end. What would the total productivity function look like? Comment on the likelihood of such a function in the real world
What will be an ideal response?
Economics
Consuming goods until the ratio of marginal utilities of the goods is equal to the ratio of their prices is consistent with maximizing total utility
a. True b. False
Economics