What three things must a firm know in order to calculate costs?
What will be an ideal response?
(1.) The techniques of production available.
(2.) The prices of inputs.
(3.) Output.
Economics
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Suppose that Matt quits a job with the XYZ Corporation in order to look for more rewarding employment. Matt is best be considered as
A) still being employed. B) included in the economy's "hidden employment." C) frictionally unemployed. D) cyclically unemployed.
Economics
From the point of view of economic efficiency, output in a monopolized market is
a. too high. b. perfect. c. too low. d. undesirable.
Economics