Prices of industrial products and wages tend to be the most "flexible."

Indicate whether the statement is true or false

FALSE

Economics

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Refer to Table 2.4. What can be observed about the given resources?

A) Land is fixed but fertilizer is variable. B) Land and fertilizer are both fixed. C) Land is variable but fertilizer is fixed. D) Land and fertilizer are both variable.

Economics

If output is increased beyond the point where total profit is maximized,

a. marginal profit will be zero. b. marginal profit will be negative. c. marginal profit will be positive. d. MR > MC.

Economics