During most of the 1980s, 1990s, and 2000s the U.S. has had a ________ current account balance and a ________ capital and financial account balance

Total cost of production refers to the:

A) sum of variable costs and fixed costs. B) product of variable costs and fixed costs. C) difference between variable costs and fixed costs. D) ratio of variable costs to fixed costs.

Which of the following is true of a firm that can successfully practice price discrimination?

a. Its total revenue is often reduced. b. It appropriates a part of the consumer surplus. c. It has no way of distinguishing between types of customers. d. It has no market power in the industry. e. It must be a perfectly competitive firm.