All firms have to incur costs because of:

A.  The resources they use

B.  Buyers they sell to

C.  The profits they earn

D.  Revenues they receive

A.  The resources they use

Economics

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Why have poor nations invested so much money in education and health? Evaluate the soundness of these reasons

What will be an ideal response?

Economics

Consider a firm operating in a perfectly competitive market. At its current output of 200 units, marginal revenue is $25 . At this output, average total cost is decreasing and equals $22 . Given this information, what should the firm do? a. Continue to produce 200 units, because this maximizes profits

b. Increase output beyond 200 units, since a higher output will yield the profit maximizing output level. c. Decrease output below 200 units, since a lower output will result in the profit maximizing output level. d. More information is needed to determine the firm's next step.

Economics