A budget constraint shows
a. the maximum utility that a consumer can achieve for a given level of income.
b. a series of bundles that cost the consumer the same amount of money.
c. a series of bundles that give the consumer the same level of utility.
d. All of the above are correct.
b
Economics
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A depreciation of a country's currency always lowers the domestic firm's profits
Indicate whether the statement is true or false
Economics
A business owner makes 50 items a day. Each day he/she contributes 8 hours to produce those items. If hired, elsewhere he/she could have earned $10 an hour. The item sells for $10 each. Production does not stop during weekends. If the explicit costs total $10,00 . for 30 days, the accounting profit for the month equals:
a. $1,760 b. $2,240 c. $11,760 d. $5,000
Economics