Both a perfectly competitive firm and a monopolist:
a. maximize profit by setting marginal cost equal to marginal revenue.
b. always earn an economic profit.
c. are price takers.
d. maximize profit by setting marginal cost equal to average total cost.
a
Economics
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What is a currency system in which each country tries to keep the value of its currency constant against one another called?
What will be an ideal response?
Economics
In the above figure, the short-run equilibrium is at the price level of ________ and real GDP of ________
A) 100; $15.5 trillion B) 120; $16 trillion C) 110; $15.5 trillion D) 100; $16 trillion
Economics