A profit-maximizing firm will never hire that quantity of a factor of production for which that factor has an increasing marginal productivity because
a. it would not be maximizing output.
b. it would not be maximizing the productivity of labor.
c. it would not be minimizing costs.
d. it would not be maximizing profits.
d
Economics
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The one type of expenditure that we assume can differ from what spenders have planned is
A) consumption. B) investment. C) government expenditure. D) net exports.
Economics
If a new unit excise tax is levied on bottles of wine, the
A) demand for wine shifts to the left. B) demand for wine shifts to the right. C) supply of wine shifts to the right. D) supply of wine shifts to the left.
Economics