Which of the following is always TRUE in the short run for a perfectly competitive firm that is maximizing economic profits?
A) P = d = MR = MC = AVC
B) P = d = MR = MC
C) P = d = MR = Q
D) MR = MC = Q
B
Economics
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Which of the following statements is true about the mean of a series?
A) The mean is equal to zero when all the values are identical. B) The mean is a commonly used technique for summarizing data. C) The mean is less than all the individual observations in the data set. D) The mean is calculated as the sum of all values multiplied by the number of values.
Economics
If domestic savings is less than domestic investment, then
A) a trade deficit occurs. B) the government runs a budget deficit. C) there will be a negative foreign investment. D) a trade surplus must result. E) Both A and C.
Economics