Suppose that Megabucks Corporation is earning an economic profit of $4,000 through the sale of a product. If the price of the product is $6 per unit and its ATC is $4 per unit, Megabucks must be producing 8,000 units

The question "Will doctors or lawyers have higher annual incomes?" represents which of the three basic economic questions?

What will be an ideal response?

Any output combination outside the production possibilities curve is attainable in the current period only if prices decrease

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