Where does the short-run Phillips curve intersect the long-run Phillips curve?
A) at the point where actual inflation is equal to expected inflation
B) at the point where the rate of inflation and the unemployment rate are equal
C) at the natural rate of inflation
D) There is no intersection between the short-run and long-run Phillips curves.
A
Economics
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If a firm is operating in the range of economies of scale, and if it is currently at the minimum point of its short-run average total cost curve, explain what action it can take to reduce its costs, if it does not want to change the quantity of output that it is producing
Economics
In which of the following industries is marginal cost pricing most likely?
A.) Laundry detergent. B.) Toothpaste. C.) Air travel. D.) Corn.
Economics