Perfect competition arises if the ________ efficient scale of a single producer is ________ relative to the demand for the good or service

Ricardian Equivalence theory is based on the view that ________

A) the impact of a tax cut is felt primarily on domestic consumption spending B) households tend to take future events into account when engaging in economic decision-making C) the price of a commodity is negatively related to the quantity of that good demanded D) a trade-off exists between the use of monetary and fiscal policy in influencing the level of income

Distinguish the short run from the long run. Generally, what causes costs of production to vary with output in the short run? What generally causes costs of production to vary in the long run?

What will be an ideal response?