Usually, the shape of a firm's total variable cost curve primarily reflects the cost of

If in the long run a firm makes zero profit, it should exit the industry

Indicate whether the statement is true or false

A merit goods is

a. a public good provided by government that people deem necessary and important b. a good that the market does not produce in quantities and at prices that governmentbelieves is warranted c. the highest quality of a public good that government produces d. a public good produced in the most efficient way e. a civilian public good as opposed to a national security good produced bygovernment