Which of the following represents the firm's long-run condition for exiting a market?
a. exit if P < MC
b. exit if P < FC
c. exit if P < ATC
d. exit if MR < MC
c
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The fact that since 1990 the number of movie screens in the United States has grown faster than the number of theaters illustrates the benefits of
a. economies of scale b. constant long-run average cost c. diseconomies of scale d. increasing long-run average cost e. a U-shaped marginal cost curve
A problem in identifying poverty is that the concept of what constitutes a basic need is always changing
Indicate whether the statement is true or false
An action that is the best choice under all conditions is known as the
A) profit-maximizing strategy. B) prisoner's dilemma. C) tit-for-tat strategy. D) dominant strategy.
From 2001 to 2015, the debt-GDP ratio in the United States
A. was about constant. B. steadily increased. C. steadily fell. D. fell from 1995 to 1998, then rose sharply.