Which of the following is the best example of "how goods and services should be produced?"
A) complying with the technical specifications in the production of an aircraft
B) the production of jet aircraft for the air force or for a commercial airline
C) the use of additional workers versus the use of machines in the production of goods
D) the production of a new manufacturing facility
C
Economics
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Marginal profit is equal to
A) marginal revenue minus marginal cost. B) marginal revenue plus marginal cost. C) marginal cost minus marginal revenue. D) marginal revenue times marginal cost. E) marginal revenue divided by marginal cost.
Economics
The key feature of monopolistic competition is
A) interdependence of the firms. B) lack of advertisement. C) product differentiation. D) the small number of firms in the industry.
Economics