The quantity theory of money implies that the price level will be stable (no inflation or deflation) when the growth rate of the money supply equals

In general, firms will produce at a rate of output such that marginal revenue equals marginal cost because this output rate will

a. bring total revenue into equality with total cost. b. maximize the difference between the revenue received from the last unit and the cost incurred in producing the last unit. c. result in the lowest possible average total costs of production. d. maximize the firm's profit.

Which of the following statements is correct?

a. The theory of consumer choice provides a more complete understanding of supply, just as the theory of the competitive firm provides a more complete understanding of demand. b. The theory of consumer choice provides a more complete understanding of demand, just as the theory of the competitive firm provides a more complete understanding of supply. c. Monetary theory provides a more complete understanding of demand, just as the theory of the competitive firm provides a more complete understanding of supply. d. The theory of public choice provides a more complete understanding of supply, just as the theory of the competitive firm provides a more complete understanding of demand.