If a potato farmer increases output and finds that total revenue increased less than total cost, then you know for sure that
a. profit had been maximized
b. the farmer should not have increased output
c. the farmer should produce even more output
d. the farmer suffers a loss
e. the farmer should have decreased output, not increased it
B
Economics
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According to Keynesian theory, decreasing taxes and increasing government spending will most likely change consumption expenditures and unemployment in which of the following ways?
A) Decrease/Increase B) Decrease/No change C) Increase/Decrease D) Increase/Increase E) No change/Decrease
Economics
The resource income earned by those who supply ________ is called wages
A) labor B) natural resources C) entrepreneurship D) capital
Economics