If a manager is unsure what the entire profit function looks like, then she can
A) decrease output slightly to see if profits increase.
B) increase output slightly to see if profits increase.
C) Both A and B.
D) None of the above.
C
Economics
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To avoid trade restrictions, a U.S. firm moves its final production process to Ireland and then ships the final products to Germany. This is an example of
A) trade deflection. B) trade diversion. C) protectionism. D) rules of origin.
Economics
What economic conditions are necessary to achieve allocation efficiency under pure competition?
What will be an ideal response?
Economics