A firm will expand the amount of output it produces as long as its
A) average total revenue exceeds its average total cost.
B) average total revenue exceeds its average variable cost.
C) marginal cost exceeds its marginal revenue.
D) marginal revenue exceeds its marginal cost.
D
Economics
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The theory of comparative advantage shows that the gains from international trade result from producing: a. at a lower opportunity cost. b. at a lower absolute cost
c. a labor-intensive good. d. a capital-intensive good.
Economics
Suppose the civilian non-institutional population equals 250,000; there are 132,500 employed persons and 10,000 unemployed persons. How many persons are not in the labor force?
A) 122,500 B) 77,500 C) 63,500 D) 107,500
Economics