A perfectly competitive firm should produce in the short run:
a. only if price exceeds average total cost.
b. even if price is less than average variable cost.
c. as long as price exceeds average fixed cost.
d. as long as price exceeds average variable cost.
d
Economics
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Changes in domestic and foreign income result in:
A) movements along the demand and supply curves of the foreign exchange market. B) shifts in the demand and supply curves of the foreign exchange market. C) all of the above. D) none of the above.
Economics
In the basic closed-economy ISLM model, the money demand is a function of
A) output. B) money supply. C) interest rates. D) both A and C.
Economics