A firm's shutdown point is the output and price at which the firm's total revenue just equals its total variable cost

Indicate whether the statement is true or false


TRUE

Economics

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In the United States, Texas ranks number one in the amount of installed megawatts for wind power generation and Florida ranks number one in the number of beach vacations. These facts point out that

A) Texas has a comparative advantage in wind power generation. B) Texas definitely has an absolute advantage in wind power generation. C) Florida should produce more wind energy. D) Florida can produce wind energy at a lower opportunity cost than can Texas.

Economics

Describe the principal costs of unemployment. Are there any benefits to unemployment?

What will be an ideal response?

Economics

When the number of substitutes increase, the demand curve for a monopolist will

A) not change. B) become more elastic. C) become more inelastic. D) become steeper.

Economics

If a leader wanted to show how many weapons she would have to give up in order to increase food production to a certain level, she could use a(n) ______.

a. production possibilities curve b. circular flow diagram c. demand curve d. interest calculator

Economics