Based on the figure above, when the firm maximizes its profit, it produces ________ cans per day
A) 0
B) more than 0 and less than 5
C) 5 or more but less than 10
D) 10
E) more than 10
D
Economics
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The short run in macroeconomics is the period in which
A) prices change significantly. B) the demand curve is vertical. C) no contracts or agreements exist to fix prices. D) demand determines output.
Economics
Two factories make wooden chairs. If the workers in factory A make each chair from start to finish and the workers in factory B divide labor, one would assume
A) the chairs in factory A are of higher quality. B) the workers in factory B have more job satisfaction. C) factory B can take advantage of division of labor and produce more efficiently. D) factory A can take advantage of division of labor and produce more efficiently.
Economics