In the above table, the total cost of producing 9 units of output is

Answer the following questions true (T) or false (F)

1. A perfectly competitive firm's marginal revenue curve is downward sloping. 2. Assume that price is greater than average variable cost. If a perfectly competitive firm is producing at an output where price is $114 and the marginal cost is $102, then the firm is probably producing more than its profit-maximizing quantity. 3. Being a price taker, a perfectly competitive firm cannot receive a producer surplus in the short run.

Which of the following was an element of the New Deal?

A. Wage and price controls B. Unemployment insurance and bank deposit insurance C. Regulation of the stock market D. Unemployment insurance, bank deposit insurance, and regulation of the stock market, but not wage and price controls