In the above figure, if the market price is $8, the firm
A) continues to produce but at an economic loss.
B) continues to produce but at an economic profit.
C) shuts down operations.
D) produces 10 units.
A
Economics
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If a Lorenz curve for a country's income bows more rightward over time, then the country's
A) income is increasing. B) income is decreasing. C) income is becoming more unequally distributed. D) income is becoming more equally distributed.
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A market in which a price-controlled good is sold at an illegally high price is known as
A) a flooring market. B) a ceiling market. C) a black market. D) a supermarket.
Economics