Excess capacity exists when a firm produces
A) more than the profit-maximizing level of output.
B) less than the quantity that minimizes average total cost.
C) less than the quantity that minimizes marginal cost.
D) more than the quantity that minimizes marginal cost.
E) None of the above answers is correct.
B
Economics
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Imports are the goods and services that are produced abroad and then purchased domestically
a. True b. False Indicate whether the statement is true or false
Economics
The particular price that results in quantity supplied being equal to quantity demanded is the best price because it
a. maximizes costs of the seller. b. maximizes tax revenue for the government. c. maximizes the combined welfare of buyers and sellers. d. minimizes the expenditure of buyers.
Economics