In the short run a perfectly competitive firm will

A sign that the Federal Reserve is moving to lower interest rates would be

A) a reduction in bank reserves. B) an increase in margin requirements. C) a widening gap between the Treasury bill yield and the discount rate. D) a narrowing gap between the Treasury bill yield and the discount rate.

For a perfectly competitive firm, the value of the marginal product is

A) the same thing as marginal factor cost. B) the same thing as marginal physical product. C) marginal physical product times the product price. D) marginal physical product times the wage rate.