What type of good is clean air?

Which of the following can banks use to borrow from the Federal Reserve?

a. the discount window or the term auction facility b. the discount window but not the term auction facility c. the term auction facility but not the discount window d. Banks cannot borrow from the Federal Reserve, only the government can.

Suppose a perfectly competitive firm faces the following short-run cost and revenue conditions: ATC = $8.00; AVC = $5.00; MC = $8.00; MR = $7.00. The firm should

A) increase output. B) decrease output. C) increase price. D) continue to produce its current output.