Traveler's check are

A) part of M1 only.
B) part of M2 only.
C) part of M1 and M2.
D) not part of M1 or M2.


C

Economics

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In the long run, a perfectly competitive firm maximizes profit so P = MC = AC.

Answer the following statement true (T) or false (F)

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What is the defining characteristic of a natural monopoly? Give an example of a natural monopoly

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The variable cost of zero units of output is equal to

A. zero. B. total cost. C. total fixed cost. D. one.

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The traditional role of savings and loan associations has been to

A. finance business purchases of capital goods. B. purchase corporate stocks on behalf of its depositors. C. make installment loans to consumers. D. make mortgage loans on houses.

Economics