What two things does the level of total variable costs depend on?
What will be an ideal response?
(1.) The techniques of production which are available.
(2.) The prices of inputs required by each technology.
Economics
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To be part of the supply for a good, a producer must be
A) only willing to supply the good. B) only able to supply the good. C) both able and willing to supply the good. D) both able and willing to supply the good, and have already identified a buyer. E) both able and willing to supply the good, and have already sold the good.
Economics
Scarcity always exists because
a. machines and people are inefficient. b. changes have occurred in global weather patterns. c. our needs and wants are not limited, but our resources are limited. d. there are more poor people than rich people.
Economics