A coincident indicator will change before a recession begins
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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A perfectly competitive firm's economic profit is maximized by producing the amount of output such that
A) total revenue equals total variable cost. B) marginal revenue equals marginal cost. C) total revenue equals total cost. D) marginal revenue is equal to total revenue.
Economics
Consider a firm with the following cost and revenue information: ATC = $20, AVC = $10, and P = MR = $30 . If the firm follows the rule to maximize profits, its output level is 3 . Therefore MC equals
a. $20 b. $10 c. $30 d. $90 e. $3
Economics