What measure reflects the overall cost of goods and services produced domestically?

According to your authors, a necessary condition for the evolution of a successful commercial society includes

A) stable interest rates. B) reasonably secure property rights. C) a superabundance of natural resources. D) zero economic losses.

Suppose at a certain quantity of output, a firm's average-total-cost curve lies above its demand curve. At this quantity of output, the firm:

a. is earning negative economic profit. b. is earning zero economic profit. c. is maximizing profit. d. should increase its output to maximize profit. e. should reduce output to maximize negative economic profit.