Holding everything else constant, if total factor productivity ________ or if the labor force growth rate ________ the debt-to-GDP ratio will increase

Opportunity cost means the

A) accounting cost minus the marginal cost. B) highest-valued alternative forgone. C) accounting cost minus the marginal benefit. D) monetary costs of an activity.

Consider the perfectly competitive firm in the above figure. What will the firm choose to do in the short-run and why?

A) shut down because the firm incurs an economic loss B) stay in business because the firm is making an economic profit C) stay in business because the firm's economic loss is less than fixed costs D) stay in business because it is making zero economic profit