Refer to the scenario above. The principal in this case is ________

A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The price of each good is $10. Calculate the firm's short-run profit or loss

A) loss of $6,000 B) profit of $6,000 C) profit of $30,000 D) There is insufficient information to answer the question.

Which of the following is not an adjustment made when comparing standards of living across countries?

A. Converting each country's GDP into U.S. dollars B. Dividing each country's GDP by the size of its population C. Adjusting for different price levels across countries D. Adjusting for different unemployment rates across countries