When actual reserves = required reserves, excess reserves = ____; when required reserves are greater than actual reserves, excess reserves are ______.
Fill in the blank(s) with the appropriate word(s).
0; negative
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Can a firm make losses by producing the rate of output at which marginal revenue equals marginal cost? Why?
What will be an ideal response?
Explain the relationship between the minimum wage and the unemployment rate for teenagers.
What will be an ideal response?
A consulting company estimated market demand and supply in a perfectly competitive industry and obtained the following results:Qd = 25,000 ? 5,000P + 25MQs = 240,000 + 5,000P ? 2,000PI where P is price, M is income, and PI is the price of a key input. The forecasts for the next year are 
? = $15,000 and 
I = $20. Average variable cost is estimated to beAVC = 14 ? 0.008Q + 0.000002Q2 Total fixed cost will be $6,000 next year. What is the price forecast for next year?
A. $12 B. $68 C. $60 D. $20