An increase in wages will shift the supply curve up and to the left

In a perfectly competitive market in which all firms are maximizing their economic profits, the demand and supply curves intersect at a price of $8. From this we know that each

A) firm's average total cost of producing the good is $8. B) firm's average variable cost of producing the good is $8. C) firm's marginal cost of producing the good is $8. D) firm is earning positive economic profits at a price of $8 or more.

The rate of return on short-term U.S. government bonds is often referred to as the:

A. federal funds rate. B. discount rate. C. risk-free interest rate. D. yield rate.