If price equals average total cost at the profit-maximizing output level, then in the short run,
a. profit is positive
b. profit is negative
c. the firm will go out of business
d. the firm will earn zero profit
e. the firm's supply curve is horizontal
D
Economics
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A supply curve shows
A) the marginal cost of producing one more unit of a good or service. B) the marginal benefit from buying one more unit of a good or service. C) the quantities sold at different prices. D) the total cost of producing different quantities of a good or service.
Economics
The Malthusian model emphasizes fixity in which of the following factors of production?
A) labor B) land C) energy D) none of the above
Economics