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Author Question: Firms face trade-offs in production, including decisions related to: A) which products to ... (Read 227 times)

sam.t96

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on: Jul 1, 2018
Firms face trade-offs in production, including decisions related to:
 
  A) which products to produce.
  B) how much of a particular product to produce.
  C) the best way to produce a given amount of output.
  D) all of the above

Question 2

The assumption that preferences are complete:
 
  A) means that a consumer will spend her entire income.
  B) is unnecessary, as long as transitivity is assumed.
  C) recognizes that there may be pairs of market baskets that cannot be compared.
  D) means that the consumer can compare any two market baskets of goods and determine that either one is preferred to the other or that she is indifferent between them.


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johnpizzaz

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

D


sam.t96

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Reply #2 on: Jul 1, 2018
Thank you :)


johnpizzaz

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Reply #3 on: Jul 1, 2018
Happy to help you


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