Aggregate expenditure includes final spending by households, businesses, and government on final goods and services

Productive efficiency is achieved when firms produce goods and services

A) at the highest profit margin. B) at the lowest cost. C) most desired by society. D) of the highest quality.

If the bidders at a first-price auction have true values of $78, $72, $66 and $65, the item will sell for

a. Just above $78 b. Just under $72 c. Just above $72 d. Just above $66