Correct Answer: For whom
Explanation:
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Normative economics deals with ____ and positive economics deals with ____.
In the ______________, households receive goods and services and pay firms for them
In the ____________, households work and receive payment from firms.
_________ is the synchronized movement of goods through the channel.
If demand is inelastic, the tax burden falls primarily on the _____ and deadweight loss is _____.
The total output of a good produced by the firm is the total product.
The _____ of the firm’s fixed costs and variable costs is total cost.
Sunk costs can’t be _____.
A period too brief for some production inputs to be varied is known as
______ is the difference between total revenues and total costs