What is always TRUE about the short-run equilibrium position for a firm in perfect competition?
A) MR = MC = P = ATC = AR
B) TR = TC
C) MR = MC = P = AR
D) MC = ATC
Answer: C
You might also like to view...
An example of the new goods bias in the CPI is the
A) introduction of higher quality brakes as standard equipment on new cars. B) introduction of hybrid automobiles, vehicles that were not made until recently. C) decreasing popularity of SUVs as the price of gasoline has risen. D) switch from traditional car dealerships to low-cost Internet car buying services.
Under the PCA guidelines, the FDIC must start closure proceedings on a bank once its leverage ratio falls below __________ percent
A) 0 B) 2 C) 5 D) 10
Major league baseball players get paid more than minor league baseball players because of
a. compensating differentials. b. higher levels of educational attainment. c. greater abilities. d. All of the above are correct.
Which of the following examples would illustrate a backward-sloping labor supply-curve?
a. An increase in a person's wages results in the person working fewer hours per week. b. A decrease in a person's wages results in the person working more hours per week. c. An increase in a person's wages results in the person working more hours per week. d. Both a and b are correct.