In the long run, any perfectly competitive firm that produces will choose a quantity such that
A. price is greater marginal cost.
B. long run marginal cost is less than short run marginal cost.
C. short run average cost is minimized.
D. long run total cost is minimized.
Answer: C
Economics
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During a recession, the unemployment rate ________ and the percentage of part-time workers who are involuntary part-time workers ________
A) rises; rises B) rises; falls C) falls; rises D) falls; falls E) rises; does not change
Economics
The World Trade Organization is the successor to the:
A. General Agreement on Tariffs and Trade (GATT) B. United Nations Commission on Trade Law (UNCTL) C. World Customs Organization D. United Nations Conference on Trade and Development (UNCTAD)
Economics