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Question
A situation in which the price charged is less than societyʹs opportunity cost would lead to
A) too little being produced.
B) too much being produced.
C) an efficient amount being produced.
D) marginal cost pricing.
Answer
This answer is hidden. It contains 1 characters.
Related questions
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Suppose that during a given time period the implicit cost for a business was $1,500 and that the explicit cost was $6,000. Also suppose that the firm sold 1,000 units of its products at $7 per item. We can conclude that the firmʹsA) accounting profit was $1,000, and its economic profit was -$500. B) accounting and economic profits were both $1000.C) accounting profit was -$500, and economic profit was $1,000. D) accounting profit was $1000, and economic profit was -$1,500.
Q:
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Why?
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