Real business cycle theory emphasizes the effect of ________ on economic performance

In the short run, the profit-maximizing firm will ______

A. break even if marginal revenue equals marginal cost B. make an economic profit if marginal cost is less than average total cost C. incur an economic loss if average fixed cost exceeds marginal revenue D. incur an economic loss if average total cost exceeds marginal revenue

In Figure 4-5, the commodity market is in equilibrium

A) at points B, C, and E. B) at points A and E. C) only at point E. D) at points E and D. E) at points A, B, E, and C.