The condition of fully flexible wages and prices was assumed by
A) no economists. B) the classical economists.
C) modern economists. D) the Keynesian economists.
B
Economics
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If Dell Computer finds that its marginal cost exceeds its marginal revenue on a model of laptop, then to maximize profit, it will
a. increase output if it is a price searcher, but this may not be proper if it is a price taker. b. increase output if it is a price taker, but this may not be proper if it is a price searcher. c. decrease output, regardless of whether it is a price taker or a price searcher. d. increase output, regardless of whether it is a price taker or a price searcher.
Economics
The consumer optimum (for two goods, A and B) is reached when
A) TUA = TUB. B) MUA = MUB. C) TUA/PA = TUB/PB. D) MUA/PA = MUB/PB.
Economics