Suppose at the current level of labor used, MRP = $100 and MFC = $150. To maximize profits, the firm should
A) hire more labor.
B) reduce the level of labor.
C) maintain the current level of labor.
D) expand production.
B
Economics
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Which of the following is a necessary condition for successful price discrimination?
A) The seller must possess market power. B) Transactions costs must be zero. C) The buyer must possess market power. D) Buyers must have identical inelastic demands.
Economics
Adding the market value of all final and intermediate goods and services in an economy in a given year would result in:
A. The calculation of GDP for that year B. The calculation of NDP for that year C. An amount less than GDP for that year D. An amount greater than GDP for that year
Economics