The above figure shows the short run cost curves for a typical firm in a competitive market. If price = 8, then the firm
A) is earning positive profits.
B) should produce 50 units.
C) should shut down.
D) None of above.
B
Economics
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Economic growth is equal to:
a. total factor productivity plus amounts of resources. b. growth in total factor productivity plus growth in amounts of resources. c. total factor productivity minus marginal factor productivity. d. real GDP plus national output. e. GNP plus GDP.
Economics
To aggregate 300 tons of steel, 5,000 bushels of wheat, and 1 million barrels of crude oil, economists add together the ________ of the three products
A. number of tons, bushels, and barrels B. units C. weight D. dollar value
Economics