When price is less than the firms' minimum average total cost, ________
A) new firms will enter the market
B) existing firms will leave the market
C) prices are likely to fall further
D) firms' profits are likely to be maximum
B
Economics
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For open economies,
A) S = I. B) S = I + CA. C) S = I - CA. D) S > I + CA. E) S < I + CA.
Economics
Which of the following statements is inconsistent with Say's Law?
A) The economy has flexible wages and prices. B) The economy will produces at the full employment level of output. C) The economy has an environment of "laissez faire." D) The economy's level of saving depends solely on the level of income.
Economics