What three pieces of information do firms need to know to make production decisions?

What will be an ideal response?

(1.) The market price of the output.
(2.) The techniques of production which are available.
(3.) The prices of inputs.

Economics

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A good that is rival but nonexcludable is a ________

Fill in the blank(s) with correct word

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Making choices that are expected to achieve the highest possible value for some objective is termed:

A) maximizing. B) minimizing. C) sanitizing. D) satisfying.

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Economics