A monopolistically competitive firm is currently producing 20 units of output. At this level of output the firm is charging a price equal to $20, has marginal revenue equal to $12, has marginal cost equal to $12, and has average total cost equal to $18 . From this information we can infer that
a. the firm is currently maximizing its profit.
b. the profits of the firm are negative.
c. firms are likely to leave this market in the long run.
d. All of the above are correct.
a
Economics
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When comparing the banking crisis in the United States to the crises in Latin America, cost to the taxpayers of the government bailouts was
A) higher in Latin American than in the United States. B) higher in the United States than in Latin America. C) about the same in both Latin America and the United States. D) positive in Latin America but negative in the United States.
Economics
Monetary policy is the system of actions taken by the Fed to influence the money supply
a. True b. False Indicate whether the statement is true or false
Economics