In perfect competition, a profit-maximizing business will expand production until its _________ equals the market price.

At 2015 prices, the value of production in 2016 was 6 percentage points higher than in 2015. At 2016 prices, the value of production in 2016 was 4 percentage points higher than in 2015

Using the chain-weighted output index, real GDP is ________ in 2016 than in 2015. A) 10 percent greater B) 5 percent greater C) 7.5 percent greater D) 4 percent smaller

The loss of total market share of steel in the world market for steel can be blamed on steel producers' decisions to not adopt the latest steel technology

The producers in other countries that adopted it gained market share at the expense of the U.S. Indicate whether the statement is true or false