The operation of supply and demand should be thought of as a process
A) for establishing consumer sovereignty.
B) for increasing individual liberty.
C) for maximizing social welfare.
D) for maximizing total output.
E) of mutual accommodation.
E
Economics
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If the wage rate is ________ the value of marginal product, a firm can increase its profit by ________
A) greater than; selling an extra unit of output B) less than; selling one less unit of output C) less than; hiring an extra worker D) less than; hiring one less worker
Economics
The firm's most profitable output is at
A. 40.
B. 45.
C. 50.
D. 55.
Economics