In Faraway country, every citizen receives a birthday cake voucher as a gift for their birthday. What function of microeconomic analysis does this public policy address?
A) What goods/services to produce
B) How to produce the goods and services
C) Who gets the goods and services
D) A and B
C
Economics
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Average total cost is equal to average variable cost minus average fixed cost
Indicate whether the statement is true or false
Economics
In constructing a production possibilities curve, all of the following are assumed EXCEPT
A) resources are fully employed. B) the quantity and quality of resources being used is fixed. C) the state of technology is improving. D) the time period involved is fixed.
Economics