For a perfectly competitive firm, no matter how much the firm produces, price always equals
A) marginal product.
B) average total cost.
C) minimum average total cost.
D) marginal revenue.
D
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Is the poverty rate the lowest among Hispanic households, black households, or white households?
What will be an ideal response?
National saving minus private saving is equal to
A) the government surplus. B) private disposable income. C) the current account deficit. D) interest on the government debt.
During the post-bellum period, growth in demand outpaced growth in supply, causing food prices to fall
Indicate whether the statement is true or false
If the price elasticity of demand for a good is 3.0, it is clear that the good
a. would be a poor choice to tax if the object is to raise tax revenue b. would be an excellent choice to tax if the object is to raise revenue c. is an essential good d. has a demand curve that is price inelastic at every price level e. is a complementary good