Economists assume that the goal of the firm is to
a. maximize total revenue
b. maximize profits
c. minimize costs
d. equate total revenue and total cost
e. break even in the long run
B
Economics
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Price floors in agriculture lead to
A) efficient farming techniques being employed. B) surpluses of supported farm products. C) more competition in farming. D) the most efficient market solution.
Economics
In Macronesia, the MPC is approximately .80 . If disposable income changes from 1,000 billion pukas to 1,500 billion pukas, then consumption will change by a(n)
a. decrease of 500 billion pukas. b. increase of 500 billion pukas. c. increase of 400 billion pukas. d. increase of 800 billion pukas.
Economics