A firm is currently selling its output for $10 per unit and is producing where marginal revenue equals marginal cost at an output level of 100 units
If the firm's total variable costs are $900 and its fixed costs are $300 should it produce in the short run or shut down?
The firm should produce in the short run because its total revenue of $1000 ($10 x 100) is greater than its total variable cost of $900 .
Economics
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Ideal randomized controlled experiments in economics are
A) often performed in practice. B) often used by the Federal Reserve to study the effects of monetary policy. C) useful because they give a definition of a causal effect. D) sometimes used by universities to determine who graduates in four years rather than five.
Economics
An export subsidy imposed in a large exporting country will cause the country's international terms of trade to improve.
Answer the following statement true (T) or false (F)
Economics