Milton Friedman is widely considered to be the father of monetarism
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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Suppose the short-run production function is q = 10 ? L. If the wage rate is $10 per unit of labor, then MC equals
A) q. B) q/10. C) 10/q. D) 1.
Economics
In order for the price system to have satisfied the exacting requirements for efficiency,
A. MU must equal MC for each and every commodity. B. the average cost of producing each good must be equal to its MU. C. the maximum possible of total economic profit must be produced. D. every consumer’s MU will be equal to marginal physical product.
Economics