A perfectly competitive firm produces so that its marginal cost equals the price

Production inefficiency is most likely to occur when the principal has more information about work performance than the agent does

Indicate whether the statement is true or false

According to the concept of present value, a $50 barrel of oil today is worth:

A. less than a $50 barrel in 2 years. B. more than a $50 barrel in 2 years. C. the same as a $50 barrel in 2 years. D. the same as a $50 barrel in 2 years, but only if there is no inflation during those 2 years.