Under what conditions should a competitive firm shut down in the short run?
What will be an ideal response?
When market price is below average variable cost at the output where marginal revenue equals marginal cost, the firm should shut down in the short run.
Economics
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Government spending as a percent of national income
A) peaked during the Reagan administration. B) peaked during World War II. C) has been steadily climbing since 1850. D) has been almost constant this century.
Economics
For a given technology, a higher capital stock will decrease labor productivity
a. True b. False Indicate whether the statement is true or false
Economics