In the short-run if TR < TC, a perfectly competitive firm will always shut down
a. True
b. False
Indicate whether the statement is true or false
False
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When it's not clear how to translate available information into something personally meaningful, it's:
A. more likely you'll make a mistake in your choice. B. more likely you'll invest more time in making your choice. C. less likely you'll make a mistake, given the amount of information. D. less likely the choice will have a big impact on you.
The Federal Reserve's policy reaction function provides information about:
A. economywide money demand and the output gap. B. economywide money demand and the long-run target for inflation. C. the short-run target for inflation and how aggressively target will be pursued. D. the long-run target for inflation and how aggressively targets will be pursued.
A rightward shift of the supply curve will lead to a(n)
A) decrease in equilibrium price. B) excess supply at the old equilibrium price. C) increase in quantity demanded. D) All of the above.
The major economic cost of growth is:
A. investment in stocks and bonds. B. higher interest rates. C. consumption sacrificed for capital formation. D. higher inflation rates.