In the simple Keynesian model, if there is an autonomous investment falls by $20 billion and the MPC (b) is 0.60, the equilibrium income level will increase by

Using the figure above, which of the following statements are correct?

i. When 3 haircuts are produced, the firm's ATC is $10. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $14. iii. The firm is NOT a perfect competitor. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii

If all conditions for a perfectly competitive market are met

A) firms face sunk cost when entering the market. B) firms' demand curves are horizontal. C) the market demand curve is horizontal. D) the firms' demand curves are downward-sloping.