If there are externalities present in a market, resources are allocated efficiently when marginal social cost equals marginal social benefit

Economic variables that generally turn down after a recession begins and turn back up after the recovery starts are called:

A) leading indicators. B) coincident indicators. C) lagging indicators. D) none of the above.

A monopolist produces at the minimum point of the average total cost curve in the long run

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