Refer to the graph below for a purely competitive firm in the short run. The price of the firm's product is given by:
A. 0F/0C
B. 0G/0C
C. 0F/0B
D. 0E/0A
C. 0F/0B
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The US government generally finances its debt by:
A. selling US securities. B. printing money. C. borrowing directly from the FED. D. borrowing directly from very large banks.
One problem with average cost pricing for a natural monopoly is that
a. it requires a side payment b. maximizes the firm's revenue c. makes the firm's total cost equal to zero d. maximizes the firm's profit e. it provides no incentive for the firm to economize on capital
How is the value added for each firm calculated?
a. by multiplying the product value for the previous firm with the product value for the
current firm
b. by dividing the product value for the current firm by the product value for the next firm
c. by subtracting the product value for the previous firm from the product value for the
current firm
d. by adding the product value for the current firm to the product value for the next firm
A firm's accounting profit is also its
A) economic profit. B) income statement. C) net income. D) statement of liabilities.