The Sherman Antitrust Act was passed in:

Suppose the supply of land is infinitely inelastic and the demand for land is downward sloping but inelastic at the current equilibrium. If the supply curve shifts rightward (e.g

, previously unusable land is cleared for production), what happens to the aggregate economic rents in this market? A) Decrease B) Increase C) Remain the same D) We do not have enough information to answer this question.

If a perfectly competitive firm shuts down in the short run, its variable cost equals zero

a. True b. False