If price exceeds average variable cost but is less than average total cost, a firm
A) should shut down.
B) should further differentiate its product.
C) should stay in business for a while longer until its fixed costs expire.
D) is making some profit but less than maximum profit.
C
Economics
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The 2009 fiscal stimulus bill represented approximately
a. 5.5% of GDP and was designed to close the expansionary gap. b. 5.5% of GDP and was designed to close the recessionary gap. c. 7.8% of GDP and was designed to close the expansionary gap. d. 7.8% of GDP and was designed to close the recessionary gap.
Economics
An overall fall in prices in the economy is called:
A. inflation. B. deflation. C. core inflation. D. core deflation.
Economics