The only way governments can finance a deficit is by printing new money

In the short run, a profit-maximizing firm will shut down if its total revenue is greater than its variable costs

Indicate whether the statement is true or false

Which of the following statements about the perfect competitor is INCORRECT?

A) The perfectly competitive firm is always a price taker. B) The perfect competitor sells a homogeneous commodity. C) If an individual firm raises price, it will lose business. D) The products made by a perfectly competitive firm have no close substitutes.