To achieve allocative efficiency, firms
a. strive to minimize fixed costs
b. strive to maximize profits
c. produce at their minimum long-run average cost
d. produce at their minimum long-run marginal cost
e. produce the output consumers want most
E
Economics
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At year-end 2014, the national debt of the United States was approximately
a. 5 percent of GDP. b. 25 percent of GDP. c. 77 percent of GDP. d. 107 percent of GDP.
Economics
Jen is a waitress, and she gets paid an additional $2.00 per hour for agreeing to work on Valentine's Day. Jamie is also a waitress, but she did not work on Valentine's Day and hence did not get the extra $2.00 per hour. This difference in pay is an example of differences in human capital
a. True b. False Indicate whether the statement is true or false
Economics