If the marginal net utility of beer is negative, the consumer should buy more beer in order to increase the total utility
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Economists proclaim that competitive firms make zero economic profit in the long run. This shows how
A) detached economists are from the real world. B) unrealistic economic theory is. C) firms cover all their cost, both monetary and non-monetary. D) firms cover only monetary cost when economic profits are zero.
Economics
Is the United States' labor supply more inelastic or more elastic? Briefly summarize the competing theories
Economics