If on a given product indifference curve a firm is using an insufficient (nonoptimal) amount of one of its inputs
a. output will be below optimal.
b. the MRP of the input will be below its price.
c. costs will not be minimal.
d. relative input prices need to change.
c
Economics
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If an increase in x (the variable on the horizontal axis) from 6 to 8 units causes a decrease in y (the variable on the vertical axis) from 4 to 3 units, the slope equals
A) 2. B) -2. C) 1/2. D) -1/2.
Economics
When the Federal Open Market Committee buys government securities:
a. the reserve requirement of banks decrease. b. the reserve deposits of banks decrease. c. the excess reserves of banks increase. d. the federal funds rate increases. e. the legal reserves of banks decrease.
Economics