Following the MC = MR rule to profit maximization tells us how much profit can be made
Indicate whether the statement is true or false
F
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Which of the following is always TRUE in the short run for a perfectly competitive firm that is maximizing economic profits?
A) P = d = MR = MC = AVC B) P = d = MR = MC C) P = d = MR = Q D) MR = MC = Q
When a country that imported a particular good abandons a free-trade policy and adopts a no-trade policy,
a. producer surplus increases and total surplus increases in the market for that good. b. producer surplus increases and total surplus decreases in the market for that good. c. producer surplus decreases and total surplus increases in the market for that good. d. producer surplus decreases and total surplus decreases in the market for that good.
Open market operations are conducted by the Fed
A. in the New York Stock Exchange. B. through the Bureau of Engraving. C. through the Washington location of the Federal Reserve's Bank of Governors. D. in the private secondary U.S. securities market.
________ is defined as the change in quantity between two dates
A) Growth rate B) Improvement ratio C) Development ratio D) Progress index