If a perfectly competitive firm's price is above its average total cost, the firm
A) is incurring a loss. B) should shut down. C) is earning a profit. D) is breaking even.
C
Economics
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Which of the following is most likely to cause an increase in demand for land?
a. A large study confirms that citrus fruits have anticancer properties. b. A social media celebrity popularizes outdoor meditation rituals. c. College graduates typically buy their first home in their early thirties. d. The national park saw an increase in overnight visitors this season.
Economics
A firm sells 99 units of output when price equals $10 and 100 units of output when price equals $9. Its marginal revenue for the 100th unit of output is negative.
Answer the following statement true (T) or false (F)
Economics