Cost minimization suggests that two inputs should be employed to the point where
A) the marginal cost of each input is identical.
B) the marginal revenue product of each input is identical.
C) the marginal physical product per dollar spent on each input is identical.
D) the extra contribution to physical output of the inputs is identical.
C
Economics
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Last year, the nominal interest rate was less than the anticipated rate of inflation
A) This means that not enough loans were made by banks. B) This means that the real interest rate was negative. C) This means that the real interest rate was very high. D) This scenario is not possible.
Economics
Which of the following can bring about a change in the quantity demanded?
a. decrease in quantity supplied b. increase in quantity supplied c. change in income d. change in price e. change in taste
Economics