The price that represents the shutdown point for a perfectly competitive firm is the
a. highest point on the marginal cost curve
b. lowest point on the marginal cost curve
c. highest point on the average variable cost curve
d. lowest point on the average variable cost curve
e. lowest point on the average total cost curve
D
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As long as the actual market price exceeds the equilibrium market price, there will be:
A) downward pressure on the market price. B) upward pressure on the market price. C) no purchases made. D) Both A and C are correct. E) Both B and C are correct.
Mean
What will be an ideal response?
The relationship between environmental harm and national income per person for arsenic water pollution exhibits a(n)
A. inverted U-shaped curve. B. U-shape curve. C. downward sloping curve. D. upward sloping curve.
The Fed can influence long-term interest rates by
A. affecting people's expectations of future short-term rates. B. influencing the current one-year rate. C. influencing the demand for money in the short run. D. Both A and B are correct.