A good that entails relatively high fixed costs associated with the use of knowledge and other information-intensive inputs as key factors of production is

Which of the following is true of equilibrium?

A) Equilibrium refers to a situation where an economic agent can be made better off without making anyone else worse off. B) Equilibrium refers to a situation where the government allocates resources among economic agents. C) Equilibrium refers to a situation where all economic agents are making sub-optimal choices and have an incentive to change behavior. D) Equilibrium refers to a situation where all economic agents simultaneously optimize after considering each other's actions.

Exhibit 8-16 Short-run cost curves for a competitive firm In Exhibit 8-16, if the market price of its product is $50 per unit, then the firm will:

A. break even. B. shut down. C. exit the industry. D. earn a positive economic profit.