Refer to the above graph. At output level H, the area:
A. 0AEH represents the firm's economic profit.
B. 0CGH represents the firm's total cost of production.
C. ACGE represents the firm's economic profit.
D. BCGF represents the firm's fixed costs of production.
Answer: D
Economics
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In the economy of Talikastan in 2015, consumption was $3000, exports were $1200, GDP was $6300, government purchases were $1300, and investment was $1500 . What were Talikastan's imports in 2015?
a. -$500 b. -$700 c. $700 d. $500
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What are two real-world complications with the long-run conclusion about the representative firm in the model of monopolistic competition?
What will be an ideal response?
Economics