Which of the following is TRUE of a perfectly competitive firm and a monopoly in the long run?

In the short run, a perfectly competitive firm will shut down if

a. its total costs exceed its revenues. b. its total variable costs exceed its revenues. c. its total fixed costs exceed its revenues. d. it can't earn a positive economic profit.

A bank initially has $620 million in assets and $580 million in liabilities. The banks net worth (capital) is _____________ million. If the bank's assets decline by 5% and its liabilities do not change, its capital decreases by ____________

A) $40; 5% B) $70; 141.4% C) $40; 77.5% D) $600; 5%