Based on the table above which shows Chip's costs, if Chip shuts down in the short run, his economic loss will be
A) $0.
B) $1,000.
C) $1,200.
D) $4,000.
B
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If P = MC and MC > ATC, then a perfectly competitive firm will earn ______ profits.
A) positive B) zero C) negative D) breakeven
The globalized AS/AD model relates:
A. directly to tradable and indirectly to non-tradable goods. B. directly to both tradable and non-tradable goods. C. to tradable goods only. D. to tradable services only.
The net capital outflow is the net flow of:
A. capital goods owned within a country. B. funds invested outside of a country. C. funds invested within a country. D. capital goods owned outside a country.
The advertisers' dilemma occurs in markets where:
A. advertising slightly increases the firm's sales quantity. B. advertising greatly increases the firm's sales quantity. C. advertising has zero impact on the firm's sales quantity. D. advertising greatly decreases the firm's sales quantity.