The Federal Open Market Committee oversees the buying and selling of:

An optimizing consumer will select the consumption bundle in which the marginal rate of substitution

a. is equal to the price of the least-expensive good. b. exceeds the marginal utility of each good by the greatest amount. c. is less than the slope of the budget constraint. d. None of the above is correct.

If firms in a monopolistically competitive market are earning negative economic profits, it is likely that:

A. firms will enter the market. B. firms will exit the market. C. the firms in the market will shut down immediately. D. the firms in the market will expand to try to capture lower costs per unit.