What mechanism assures that producers use inputs efficiently?
a. governmental regulations on use of resources
b. altruism
c. the desire for profit
d. an innate desire to be efficient
e. All of the above are correct.
c
Economics
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The existence of money makes trade easier. How is it that money can also increase the standard of living?
Economics
Refer to the budget line shown in the diagram. If the consumer's money income is $20, the:
A. prices of C and D cannot be determined.
B. price of C is $2 and the price of D is $4.
C. consumer can obtain a combination of 5 units of both C and D.
D. price of C is $4 and the price of D is $2.
Economics