Information can be thought of as a
A) non-economic piece of data.
B) violation of the invisible hand idea that the pursuit of self-interest promotes social interest.
C) good whose marginal benefit is infinite.
D) good whose marginal benefit decreases as more information is acquired.
D
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Which of the following is not a usual consequence of inflation?
A) Income is redistributed among people. B) People are misled into supposing that their earnings have risen substantially. C) People believe that rising prices have made them worse off. D) The cost of living goes up for everyone. E) The value of money falls.
If ABC Printing is producing an output level of 100, where MR is $5 and MC is $3, then the firm is:
a. maximizing total profit. b. making too much profit. c. making $200 total profit. d. making $200 total loss. e. making an unknown amount of profit or loss.