When marginal revenue equals marginal cost, the firm
a. should increase the level of production to maximize its profit.
b. may be minimizing its losses rather than maximizing its profit.
c. must be generating positive economic profits.
d. must be generating positive accounting profits.
b
Economics
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If the minimum wage law is repealed and employers begin using efficiency wages far less frequently, it would ___ unemployment and ____ the natural rate of unemployment: a. Increase; increase
b. Increase; not change. c. Decrease; decrease. d. Decrease; not change.
Economics
Which of the following is not an example of a transfer payment?
A) unemployment insurance payments B) health insurance payments to an army private C) social security payments to retirees D) social security payments to disabled persons
Economics