You have narrowed down your Friday night plans to either going bowling or playing billiards. If you choose to go bowling, then for you playing billiards is the ________ of going bowling.

Classical economists believed that the economy automatically moves toward equilibrium at full employment

a. True b. False Indicate whether the statement is true or false

In the short run, a perfectly competitive firm will always shut down if total revenue is ____ at all positive output levels

a. less than total cost b. less than total cost but greater than variable cost c. less than total cost but greater than fixed cost d. greater than fixed cost e. less than variable cost