At which point in Figure 9-7 would a perfectly competitive firm earn the same profit, or suffer the same loss, by producing rather than by shutting down?
a.
A
b.
B
c.
C
d.
D
e.
F
b
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An important determinant of velocity is the rate of interest.
Answer the following statement true (T) or false (F)
free-rider is a person or firm that ________ from a good or service ________.
A) does not benefit; by paying for it B) benefits; by paying for it C) does not benefit; by paying double the price for it D) benefits; without paying for it
Marginal cost is calculated as:
A. the change in output divided by the change in total costs. B. the percentage change in total costs divided by the percentage change in output. C. the change in total cost divided by the change in output. D. total revenue minus total costs.
If the GDP deflator is less than 100, then for that year, nominal GDP ________ real GDP
A) equals B) is greater than C) is less than D) may be greater than or less than