If the economy were producing at point F,





A. it would not be using its resources efficiently.



B. it would be in a recession.



C. it could gain units of guns without having to sacrifice units of butter.



D. it would specializing exclusively in butter production.

D. it would specializing exclusively in butter production

Economics

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Suppose the price of a product is $4 and the nominal wage that the firm must pay is $20. Then the firm's real wage is

A) $5. B) $0.20. C) $4. D) $20. E) $80.

Economics

Refer to Table 1-5. What is Julius's marginal cost if he decides to stay open for three hours instead of two hours?

A) $0 B) $18 C) $54 D) $65

Economics