If, in a perfectly competitive industry, the market price facing a firm is above its average total cost at the output where marginal revenue equals marginal cost, then
A) new firms are attracted to the industry. B) existing firms will exit the industry.
C) market supply will remain constant. D) firms are breaking even.
A
Economics
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Most U.S. currency held outside the U.S. banking system is held by foreigners
Indicate whether the statement is true or false
Economics
Suppose that in some tax year you earned a nominal interest rate of 6 percent. During the time you held these funds inflation was 1 percent. You compute that you made a real after-tax interest rate of 3 percent. What was your tax rate?
a. 40 percent. b. 33.3 percent. c. 25 percent. d. 50 percent.
Economics