Suppose that at the current level of output, price = $12, MC = $14, AVC = $7, and ATC = $9. Which of the following is TRUE?
A) The firm should decrease output.
B) The firm should shut down.
C) The firm should increase output.
D) The firm should maintain the current level of output.
A
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The U.S. and other industrializing nations depended heavily on international trade
Indicate whether the statement is true or false
An individual investor can reduce the risk of investing by selecting a bundle of different types of financial assets.
Answer the following statement true (T) or false (F)
A movement along the demand curve might be caused by a change in a. income
b. the prices of substitutes or complements. c. expectations about future prices. d. the price of the good or service that is being demanded.
Which of the following accurately explains a difference between the short-run aggregate supply (SRAS) curve and the long-run aggregate supply (LRAS) curve?
a. The LRAS curve reflects constant input prices with adjustable output prices, whereas the SRAS curve reflects adjustable input and output prices. b. The LRAS curve reflects constant output prices with adjustable input prices, whereas the SRAS curve reflect constant output prices. c. The SRAS curve reflects constant input prices with adjustable output prices, whereas the LRAS curve reflects adjustable input and output prices. d. The SRAS curve reflects constant output prices with adjustable input prices, whereas the LRAS curve reflects constant input and output prices.