A firm maximizes its profit at a level of output, where the additional revenue earned by selling an extra unit of the output is equal to the additional cost borne for producing that extra unit of the output
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Waiting in line for a free ticket involves no opportunity cost.
Answer the following statement true (T) or false (F)
Economics
Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
Economics