If the marginal propensity to consume (MPC) is 0.75, the value of the spending multiplier is:

Refer to the above table. There is an excess quantity supplied of 2,000 units at a price of

A) $450. B) $500. C) $600. D) $700.

There may be a different criterion used for the long run, but for the short run, a firm should shut down production if price is less than

a. ATC b. AR c. MC d. AVC e. AFC