Claude's Copper Clappers sells clappers for $65 each in a perfectly competitive market. At its present rate of output, Claude's marginal cost is $65, average variable cost is $45, and average total cost is $67 . To maximize his profit or minimize his loss, Claude should
a. increase output
b. reduce output but not to zero
c. maintain the present rate of output
d. shut down
e. raise the price
C
Economics
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The annual price of a one dollar loan is referred to as the:
A) service tax. B) rate of interest. C) discount value. D) principal.
Economics
When an employer pays the cost of educating a worker, it is likely that the employer
a. is demonstrating altruistic motives. b. is pursuing some objective other than profit-maximization. c. hopes to recapture its investment in the form of increased labor productivity. d. receives reimbursement from the government for the cost of the education.
Economics