Resources are efficiently allocated when production occurs at that output level where price:
A. Equals marginal cost
B. Equals marginal revenue
C. Is greatest over average cost
D. Is equal to average total cost
A. Equals marginal cost
Economics
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Firms can create value by
A) creating a brand name. B) by offering guarantees. C) by offering warranties. D) all of these choices.
Economics
If X is a normal good, a rise in money income will shift the:
A. supply curve for X to the left. B. supply curve for X to the right. C. demand curve for X to the left. D. demand curve for X to the right.
Economics