In the long run, a company will stay in business as long as price is:

a) Greater than or equal to marginal costs.
b) Greater than or equal to average total costs.
c) Equal to variable costs.
d) Equal to marginal physical product.


Answer: b) Greater than or equal to average total costs.

Economics

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a. not trade airplanes or televisions with Japan. b. import airplanes from Japan and export televisions to Japan. c. export airplanes to Japan and import televisions from Japan. d. export both airplanes and televisions to Japan.

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When the unemployment rate is less than the natural unemployment rate, real GDP is ________ potential GDP

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