Consider a wine maker who has put her wine in bottles. The question is whether to store the wine for a marginal cost of $1 per year or to sell the wine today at a price of $10. If the interest rate is 6%, how much must the price of the wine increase in the next year to justify storing it?

The process of countries becoming more open to foreign trade and investment is known as outsourcing

Indicate whether the statement is true or false

In a perfectly competitive market, when the price is greater than the minimum average total cost for all firms:

A. positive economic profits are being earned. B. firms will exit, causing the price to drop. C. firms will enter, causing the price to increase. D. None of these is true.