If price is above average total cost at the output where marginal revenue equals marginal cost, a firm will earn positive economic profits.
Answer the following statement true (T) or false (F)
True
Economics
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X is exports, M is imports, T is net taxes, G is government expenditure, C is consumption expenditure, S is saving, and I is investment. The government sector balance is equal to
A) T - G. B) C + S + T. C) S - I. D) X - M.
Economics
The creation of Medicare and Medicaid in 1965 dealt with contemporary public health concerns
a. True b. False
Economics
Which of the following markets is closest to a monopoly?
A) a firm with a 90% market share B) the only gas station for 100 miles C) cable television D) garbage disposal
Economics
A firm will shut down in the short run if
A. P < AVC. B. P > AVC. C. AVC > AFC. D. TR > TC.
Economics