If the loss-minimizing output for a perfectly competitive firm is zero, then, at all other output levels,
a. price must be greater than average variable cost
b. the marginal cost curve must slope downward
c. marginal cost is less than marginal revenue
d. total revenue is less than total variable cost
e. total revenue is less than average variable cost
D
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Better health allows people to work harder, which raises a country's total income. This indicates that in effect, better health
A) shifts out a country's production possibilities frontier. B) is a primary cause of price increases. C) increases consumer surplus. D) reduces the incentive to work.
The yield percentage of a stock is calculated as
A) the corporation's net worth divided by the number of shareholders. B) the book value of the stock divided by the number of shareholders. C) the stock dividend divided by the price of the stock. D) the expected appreciation of the stock.