Refer to Scenario 17.1. The lowest level of y* that can be set and still have only the high-productivity people meet it is
A) 16.
B) 13 1/3.
C) 13.
D) 8.
E) 0.
D
Economics
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If the maximum number of units of cloth produced is 300 and the maximum number of units of corn produced is 600, then with a MPLcloth = 2, what is the MPLcorn?
a. 4 b. 5 c. 6 d. 7
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Why is market definition important for economic decision making?
A) A firm is interested in knowing its actual and potential competitors. B) A firm will define its market in order to maximize revenue. C) Government regulators are interested in knowing the effect of mergers and acquisitions on competition and prices in a particular market. D) both A and C E) both A and B
Economics