Which of the following is ALWAYS true for a perfectly competitive firm?
A) P = MR
B) P = ATC
C) MR = ATC
D) P = AVC
A
Economics
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Why is the tax multiplier smaller (in absolute value) than the autonomous spending multiplier?
What will be an ideal response?
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The isoquants are normally drawn with a convex shape because inputs are:
A. perfectly substitutable. B. perfect complements. C. normal goods. D. not perfectly substitutable.
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