In the long run, a firm in a perfectly competitive industry will supply output only if its total revenue covers its
A) explicit costs plus its implicit costs.
B) fixed costs.
C) implicit costs.
D) explicit costs.
Answer: A
Economics
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Explain how the Fed increases the money supply when it buys bonds in the open market
What will be an ideal response?
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The liquidity preference function shows that as ________
A) real income decreases, so does the demand for real money balances B) the nominal interest rate increases, so does the demand for real money balances C) real income decreases, so does the real interest rate D) all of the above E) none of the above
Economics