Which of the following is true of a perfectly contestable market?

A. P > MC and P < ATC
B. P < ATC
C. P = MC
D. P > MC

Answer: C

Economics

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The Federal Depository Insurance Corporation (FDIC) has the power to close a bank when

A) the bank's net worth falls below a certain level. B) the bank's excess reserves fall below a certain level. C) the bank's total deposits fall below a certain level. D) the bank has inadequate insurance.

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Loophole mining refers to financial innovation designed to

A) hide transactions from the IRS. B) conceal transactions from the SEC. C) get around regulations. D) conceal transactions from the Treasury Department.

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