Which of the following is NOT true for a perfectly competitive firm?

A) P = MR
B) AR = MR
C) MR = TR
D) P = AR

C

Economics

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In the long run, if 1,000 units are produced at a cost of $8,000 and 1,200 units at a cost of $9,200, then over this range of output there are

A) constant economies of scale. B) constant returns to scale. C) diseconomies of scale. D) economies of scale. E) constant diseconomies of scale.

Economics

Calculate GDP for an economy with exports of $5 trillion, investment of $1.5 trillion, consumption spending of $11 trillion, imports of $6 trillion, and government purchases of $3 trillion

Economics