What is the name of the least amount that legally may be paid to most workers for an hour of work?

If a firm is able to convert every dollar of consumer surplus to economic profit, the firm has achieved

A) discrimination among units of a good. B) discrimination between groups of buyers. C) perfect price discrimination. D) perfect cost minimization. E) the normal amount of economic profit.

A perfectly competitive firm will not operate where MC = MR but at MC = AC

a. True b. False Indicate whether the statement is true or false