Protection is rarely withdrawn from infant industries because such firms are necessary to ensure creation of domestic jobs

In the short-run, a competitive firm is said to break-even if at equilibrium the:

a. price is equal to marginal revenue. b. price is equal to average revenue. c. price is equal to average variable cost. d. price is equal to the average total cost. e. price is equal to marginal cost.

Chronic trade deficits lead to a growing national debt

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