If you hire different workers each depending on the amount of sales you expect, this is an example of a ________ cost

Refer to the above figure. If real Gross Domestic Product (GDP) is $2 trillion, then

A) the level of total planned expenditures is less than real GDP. B) the level of total planned expenditures is greater than real GDP. C) the level of total planned expenditures equals real GDP. D) the level of total planned expenditures equals zero.

To maximize profit in the long run, a firm must

a. charge the highest price possible b. produce where demand is unit elastic c. sell the most output possible d. minimize the cost of producing any given amount of output e. produce at minimum long-run total cost