A firm operating at MC = MR must be making a profit.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 12-9. At price P4, the firm would
A) shut down. B) lose an amount equal to its fixed cost. C) lose an amount less than fixed cost. D) make a profit.
Explain why (holding interest rates constant), a rise in the expected depreciation in a country's currency leads to depreciation of that currency today
What will be an ideal response?
Producer surplus is
a. measured using the demand curve for a good. b. always a negative number for sellers in a competitive market. c. the amount a seller is paid minus the cost of production. d. the opportunity cost of production minus the cost of producing goods that go unsold.
Suppose that the U.S. personal income tax was eliminated and replaced with a fixed tax that raised the exact same amount of revenue. The multiplier would be
A. larger. B. unchanged. C. smaller. D. incalculable.