How are money cost and opportunity cost related to each other?
a. If markets function well, they are closely related.
b. They are always identical in any economic system.
c. Opportunity cost always exceeds money cost.
d. Money cost is less than or equal to opportunity cost.
e. In a market economy, they are always equal to each other.
a
Economics
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When a firm produces more output using the same inputs or the same output using fewer inputs we say that the firm
A) experiences positive technological change. B) will hire more workers in order to produce more output. C) experiences an increase in demand. D) is operating in the short run.
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A consumption tax would lead to an increase in the supply of loanable funds and a decrease in real interest rates
a. True b. False Indicate whether the statement is true or false
Economics