If a firm produces nothing, which of the following costs will be zero?

In the short-run, an increase in the price of raw materials will ________ the price level and ________ real GDP

A) raise; increase B) lower; increase C) lower; decrease D) raise; decrease E) raise; not change

For prices above the minimum average variable cost, a perfectly competitive firm's supply curve is

A) horizontal at the market price. B) vertical at zero output. C) the same as its marginal cost curve. D) the same as its average variable cost curve.