If the cost of production of the firms in a perfectly competitive market differs the resulting long-run supply curve will be an upward rising step function
Indicate whether the statement is true or false
T
Economics
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Changes in real GDP reflect only changes in the amounts being produced
a. True b. False Indicate whether the statement is true or false
Economics
If a firm's sales are $16 million, its fixed costs $18 million, and its variable costs $15 million, what does it do in the (a) short run? (b) long run?
What will be an ideal response?
Economics
Anything that can be used as a unit of measure, such as a coffee cup
Economics
Which of the following is responsible for the distribution of paper currency in the United States?
A. the Federal Reserve B. the Office of the Comptroller of the currency C. the U.S. Treasury D. all of these
Economics