For a firm to be economically efficient from society's point of view, it should produce to the point at which
A) marginal cost equals marginal revenue.
B) marginal cost equals average total cost.
C) marginal cost equals price.
D) average total cost equals price.
Answer: C
Economics
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Suppose that last week 100,000 people lost their jobs or quit. We can say that
A) the number of unemployed increased by less than 100,000 people because we should not count those who quit their jobs. B) the 100,000 people represent a stock known as the new unemployed. C) the number of unemployed increased by 100,000 people. D) the 100,000 people represent a flow known as job departures.
Economics
If the government budget deficit increases, which curve in the market for loanable funds shifts, which direction does it shift, and what happens to the interest rate?
Economics