A perfectly competitive firm will maximize profits (or minimize losses) so long as price (marginal revenue) is:
A) greater than marginal cost.
B) greater than average fixed cost.
C) greater than average total cost.
D) greater than average variable cost.
D
Economics
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Real business cycle theory explains variations in prices, employment, and real Gross Domestic Product (GDP) by focusing on
A) changes in real variables such as supply shocks, technological changes, and shifts in the composition of the labor force. B) anticipated changes in fiscal policy enacted by the government. C) the effects of the Phillips curve. D) anticipated monetary policies enacted by the Fed.
Economics
Why is information sometimes considered as a good?
Economics