Multiple Choice
In a market economy,firms decide what and how much to produce on the basis of their
A) income, tastes, and market supplies.
B) marginal and average utilities.
C) humanitarian ideals.
D) costs and what they can charge for their products.
E) orders from a central government planning bureau.
Correct Answer:
Verified
Correct Answer:
Verified
Q38: In addition to preferences,a consumer's choice is
Q39: The addition to total cost resulting from
Q40: Another name for opportunity cost is _
Q41: When a firm increases all its inputs
Q42: The following schedule shows the utility Mr.
Q44: In general,what percentage of their income do
Q45: Utility is a measure of<br>A) output.<br>B) usefulness.<br>C)
Q46: Cost divided by output is _ cost.<br>A)
Q47: Which best expresses the relationship between the
Q48: The following question are based on the