While the Economic Freedom Index demonstrates a strong ________ correlation between economic freedom and per capita GDP, the economic way of thinking provides the ________

If a firm is experiencing an economic loss in the long run, then

a. it must be experiencing an accounting loss b. it should stay in business if it can cover its fixed costs c. the market must be too large d. it should exit from the industry e. price exceeds marginal cost

Marginal physical product of labor is

a. total output divided by total labor employed b. total labor employed divided by total output c. change in total output divided by the change in labor employed d. change in labor employed divided by the change in total output e. total revenue divided by total output