A useful macroeconomic model
A) is extremely realistic.
B) is simple.
C) never generates testable hypotheses.
D) provides a lot of intricate details.
B
Economics
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A manager invests $400,000 in a technology that should reduce the overall costs of production. The company managed to reduce their cost per unit from $2 to $1.85 . All else equal, if the firm continues its production in the same economic environment, the firm's economic profits should
a. increase if output is low enough b. decrease c. stay the same d. increase if output is high enough
Economics
Profit is the payment made for land resources
a. True b. False
Economics