If marginal profit is zero, then average profit is at a maximum.
Answer the following statement true (T) or false (F)
False
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A White House proposal to lower business taxes by increasing tax deductions is an example of
A) progressive taxation. B) contractionary fiscal policy. C) automatic stabilization. D) expansionary fiscal policy.
When will new firms enter a perfectly competitive market? When does entry stop?
What will be an ideal response?
In the long run
A. the price level is independent of the level of output. B. the level of output is independent of the price level. C. price and output levels are mutually dependent. D. the level of output is depends on the price level.
Housing prices have increased about _______ percent since 1970 due to the active market for real estate in desirable neighborhoods near good schools.
A. 30 B. 50 C. 70 D. 100