The supply curve of a perfectly competitive firm is:

A. the marginal cost curve only if price exceeds average total cost.
B. nonexistent.
C. the average total cost curve only if price exceeds average variable cost.
D. the marginal cost curve only if price exceeds average variable cost.


Answer: D

Economics

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A. increasing; 2.5 B. decreasing; 2.5 C. increasing; 10.0 D. increasing; 4.0

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The measure of saving in the National Income and Product Accounts includes

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The principal-agent problem occurs:

A. when the principal has less information than the agent. B. when the principal has more information than the agent. C. when the agent has less information than the principal. D. not observed in reality.

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The specific goals of central banks include each of the following, except:

A. low and stable inflation. B. low and stable unemployment. C. high and stable real growth. D. high levels of exports.

Economics