U.S. currency continues to be backed by the gold standard to this day

Indicate whether the statement is true or false

FALSE

Economics

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_____________is the extra output or change in the total product caused by the addition of one more unit of variable output.

Fill in the blank(s) with the appropriate word(s).

Economics

Suppose the price of a can was $5.10. In this case, to maximize its profit, the firm illustrated in the figure above would

A) decrease its production and would make an economic profit. B) not change its production and would make zero economic profit. C) not change its production and would make an economic profit. D) decrease its production and would incur an economic loss. E) not change its production and would incur an economic loss.

Economics