Describe the choices that producers make and explain why producers are efficient on the market supply curve
What will be an ideal response?
Competitive firms maximize profit. We derive the firm's supply curve by finding the profit-maximizing quantity at each price, which means that firms are efficient and get the most value out of their resources at all points along their supply curve.
Economics
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Given the following information about Metropolis Bank:
Bank Deposits $50,000 Loans 17,500 Required Reserves 30,000 Excess Reserves 2,500 The required reserve ratio must be A) 75 percent. B) 60 percent. C) 30 percent. D) 15 percent.
Economics
Increases in productivity are caused by
a. better education and training of the labor force. b. higher levels of literacy. c. improvements in technology. d. All of the above are correct.
Economics