A teenaged babysitter is similar to a firm in a perfectly competitive industry in that, for both
A) average costs of production do not change when their industry expands.
B) fixed costs are lower than variable costs.
C) there are many other suppliers of similar goods or services.
D) the implicit costs of production exceed the explicit costs of production.
C
Economics
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The Baker Plan emphasized renewed commercial bank loans as a way to restart capital flows to Latin America
Indicate whether the statement is true or false
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An inflationary gap is the amount by which aggregate expenditures ____ the amount required to achieve full-employment equilibrium GDP
a. exceed b. equal c. fall short of d. are greater than
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