The figure above shows a perfectly competitive firm. In the short run, the firm will shut down
A) only if the AVC of producing 10 units is less than $20.
B) only if the AVC of producing 10 units is more than $20.
C) only if the AVC curve reaches its minimum before 10 units are produced.
D) always.
B
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New immigration laws championed by the Kennedy and Johnson administrations
a. established a quota system based on ethnic background. b. allowed for unlimited immigration. c. placed a high priority on uniting families. d. led to reduced immigration rates in the 1960s and 1970s. e. All of the above.
Which of the following would increase the supply of laptop computers?
a. Higher wage rates for the workers that produce laptop computers. b. A technological improvement that lowers the cost of producing laptop computers. c. An increase in the price of computer chips used to produce laptop computers. d. All of these.