The pricing rule MR=MC hold for
a. All firms
b. Single product firms
c. Multiple product firms
d. None of the above
b
Economics
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The slope of the production possibilities frontier is
A) positive. B) negative. C) zero. D) undefined.
Economics
Assume the United States can use a given amount of its resources to produce either 20 airplanes or 8 automobiles and Japan can employ the same amount of its resources to produce either 20 airplanes or 10 automobiles. The U.S. should specialize in
a. airplanes. b. automobiles. c. both goods. d. neither good.
Economics