If a firm's total revenue is less than its total variable cost, it should shut down.
Answer the following statement true (T) or false (F)
True
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In the above figure, if the market is competitive and unregulated
A) more than the efficient amount of output will be produced. B) less than the efficient amount of output will be produced. C) the efficient amount of output will be produced. D) the distribution of income will be fair.
Developing countries with large informal sectors tend to have firms that invest less in capital equipment
Indicate whether the statement is true or false
How do Pigouvian taxes help in reducing pollution?
What will be an ideal response?
The price elasticity of demand for a linear demand curve follows the pattern (moving from high prices to low prices):
a. elastic, unit elastic, inelastic. b. unit elastic, inelastic, elastic. c. inelastic, unit elastic, elastic. d. elastic, inelastic, unit elastic.