At a perfectly competitive firm's short-run break-even price
A) P = ATC.
B) TR is more than TC.
C) the average cost is below the total revenue line.
D) P > AVC, but P < AFC.
A
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The demand for Dell laptops is more price elastic than the demand for laptops as a whole. This can be best explained by the fact that
a. There are fewer substitutes for Dell laptops than for laptops as whole b. There are more substitutes for Dell laptops than for laptops as whole c. Dell laptops are luxurious goods d. Dell laptops are a necessity
Assume the nominal dollar-per-euro ($/€) exchange rate appreciates by 2%, U.S. prices rise by 5% and Euro-Area prices rise by 3%. By approximately how much does the real exchange rate change?
a. 2% b. 3% c. 1% d. There is no change. e. 5%
Jean Baptiste Say believed in all of the following EXCEPT that
A. Supply creates its own demand. B. People work so that they can save. C. Everything produced in an economy is sold. D. The normal state of economic affairs is full employment.
Quantity of Frozen Latte-On-A-Stick SuppliedPriceFlo's SupplyRita's Supply10020334649951512
Refer to Table 4.1, which shows Flo's and Rita's individual supply schedules for frozen latte-on-a-stick. Assuming Flo and Rita are the only suppliers in the market, what is the market quantity supplied at a price of $5?
A. 3 B. 12 C. 15 D. 27