Opportunity cost is objective; therefore, its value does not change as circumstances change

The above figure shows the demand and cost curves for a firm in ________ in the ________

A) perfect competition; short run B) monopolistic competition; long run C) perfect competition; long run D) monopolistic competition; short run

The classical theory of inflation

a. is also known as the quantity theory of money. b. was developed by some of the earliest economic thinkers. c. is used by most modern economists to explain the long-run determinants of the inflation rate. d. All of the above are correct.