Immediately following a business cycle "peak" comes a

For a perfectly competitive syrup producer whose average total cost curve does not change, an economic profit could turn into an economic loss if the

A) market demand for syrup decreases. B) marginal cost curve shifts downward. C) market demand for syrup does not change. D) market demand for syrup increases. E) price of syrup rises.

Refer to Figure 5-13. The market equilibrium quantity of gasoline is ________ million gallons per month

A) 20 B) 32 C) 48 D) 56