Using Figure 1 above, if the aggregate demand curve shifts from AD1 to AD2 the result in the long run would be:

In the long-run equilibrium, perfectly competitive firms produce the level of output such that

A) marginal cost is minimized. B) average total cost is minimized. C) marginal cost equals the price. D) Both answers B and C are correct.

Poverty can be eliminated without full employment

Indicate whether the statement is true or false