Models are simplifications that are used to observe the workings of a system
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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If a firm in a competitive industry is making zero economic profit but still producing, it must be the case that:
a. MC = MR > ATC. b. MC = MR < ATC. c. MC = ATC > MR. d. MC = MR = ATC. e. this situation is not possible.
Economics
In 2012, the primary sources of U.S. electricity generation, in order from largest to smallest, were:
A. coal, natural gas, nuclear, and hydropower. B. coal, hydropower, nuclear, and renewables (wind and solar). C. natural gas, coal, hydropower, and petroleum. D. hydropower, nuclear, coal, and petroleum.
Economics