If the long-run average cost curve is U-shaped, the optimal scale of production from society's viewpoint is
A) the minimum efficient scale.
B) where maximum economic profit is earned by producers.
C) where firm profit is large enough to finance research and development.
D) one which guarantees economic profit.
Answer: A
Economics
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Loopholes reduce the efficiency of the tax system
a. True b. False Indicate whether the statement is true or false
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You own $10,000 in personal property, $3,000 in Corporation A stocks, $1,000 in U.S. Savings Bonds and have $500 in your checking account. If Corporation A goes bankrupt, the most you could lose is
A) $13,500. B) $11,500. C) $3,000. D) $500.
Economics