Because economists have different values, like everyone else, they
a. tend to be self centered, so positive economics is impossible
b. ignore politics
c. use abstraction to be realistic
d. may disagree, even though economic theory is based on positive statements
e. try to be right all the time
D
Economics
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In the above table, the firm's total fixed cost of production is
A) $3.00. B) $4.00. C) $7.00. D) $29.00.
Economics
The table above gives the total revenue and total cost for a perfectly competitive firm producing chocolate chip cookies. If the firm increases its output from 2 pounds of cookies to 3 pounds, the marginal cost is ________ per pound of cookies
A) $11 B) $15 C) $24 D) $39
Economics