Refer to the graph below representing the purely competitive market for a product. When the market is at equilibrium, the deadweight loss would be:

Marginal profit equals the difference between marginal revenue and average cost

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

Suppose that Alpha's real output rose from $400 billion in year 1 to $428 billion in year 2. Its growth rate for this period was:

A. 14 percent. B. 12 percent. C. 9 percent. D. 7 percent.