In a perfectly competitive market, if P < MC, then
A) too little output is being produced.
B) too much output is being produced.
C) production is efficient, as the firm is earning profits.
D) the firm is paying a price for resources that is too high.
B
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Firms are more likely to find themselves in a prisoner's dilemma in sequential games as opposed to simultaneous games
Indicate whether the statement is true or false
To pay for WW I, the national debt was expanded from ___ percent of GDP at the beginning of the war to ___ percent of GDP by the end of the war
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