By taking the short position on a futures contract of $100,000 at a price of 115 you are agreeing to ________ a ________ face value security for ________

In analyzing the decision to shut down in the short run we assume that the firm's fixed costs are

A) nonmonetary opportunity costs. B) sunk costs. C) implicit costs. D) capital costs.

In long-run equilibrium, a profit-maximizing firm in a monopolistically competitive industry will produce the quantity of output where

A. ATC < P, MR = MC = P. B. ATC = P, MR = MC < P. C. ATC < P, MR + MC < P. D. ATC = P, MR = MC = P.