Large companies with good credit ratings tend to rely on __________ for short-term financing

The switch to the use of ethanol in gasoline is driven primarily by its relatively lower price. Assuming a competitive market, what effect would this change have on the equilibrium price and output for gasoline?

A) Price rises, output falls. B) Price falls, output rises. C) Price rises, output rises. D) Price falls, output falls.

If the loss-minimizing output for a perfectly competitive firm is zero, then, at all other output levels,

a. price must be greater than average variable cost b. the marginal cost curve must slope downward c. marginal cost is less than marginal revenue d. total revenue is less than total variable cost e. total revenue is less than average variable cost