If the market price falls below the average-variable-cost, the firm will suspend production
a. True
b. False
Indicate whether the statement is true or false
True
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The total market value of capital assets in the United States is about $30 trillion dollars.
Answer the following statement true (T) or false (F)
A monopolistically competitive firm produces a good or service that has no close substitutes
Indicate whether the statement is true or false
Bank A has checkable deposits of $100 million, vault cash equaling $1 million and deposits at the Fed equaling $14 million. If the required reserve rate is ten percent what is the maximum amount Bank A could lend?
A. $14 million B. $85 million C. $15 million D. $5 million
Related to the Economics in Practice on p. 68: Assuming the demand for Baltimore newspapers increases while the supply of Baltimore newspapers decreases, the equilibrium ________ will definitely ________.
A. price; increase B. quantity; increase C. quantity; decrease D. price; decrease