Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. The firm's shut down point is at a price of
A. $5.
B. $6.
C. $7.
D. $8.
Answer: B
Economics
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When a firm is experiencing economies of scale
A) the MP curve slopes upward. B) the LRAC curve slopes downward. C) diminishing returns to labor have been suspended. D) the MC curve slopes downward.
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Which of the following are characteristic of a developing country?
A) extensive embrace of free trade policies B) low inflation C) high national savings D) a current account deficit and low national savings E) strong credit institutions
Economics