A perfectly competitive firm is selling 300 units of output at $4 each. At this output level, total fixed cost is $100 and total variable cost is $500. The firm
A) is maximizing its profit.
B) is earning a profit, but not necessarily the maximum profit.
C) is experiencing an economic loss.
D) should shut down.
B
Economics
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Gross domestic product (GDP) is:
A. a stock. B. a flow. C. both a stock and a flow. D. neither a stock nor a flow.
Economics
Income received minus personal taxes is called:
a. national income. b. personal income. c. disposable personal income. d. transfer payments. e. net national product.
Economics