A firm's markup is the amount by which ________ exceeds ________
A) price; average total cost
B) price; marginal cost
C) average total cost; marginal cost
D) price; average variable cost
B
Economics
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The cost of an action is
A) indeterminate from a strictly economic point of view. B) the value of the next-best alternative opportunity sacrificed C) the cost to the consumer plus the cost to the producer. D) the number of consumers needed to set the price. E) measured only in money.
Economics
Which one of the following will cause the production possibilities curve to shift outward?
a. improved public education b. improved health care systems c. larger budgets for research, development, and exploration d. all of the above
Economics