A firm suffers an economic loss whenever
a. price exceeds average total cost
b. price is less than average total cost
c. total revenue exceeds variable cost
d. marginal cost is greater than marginal revenue
e. marginal cost exceeds average cost
B
Economics
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According to your text, the economic way of thinking focuses on
A) actions, interactions, and consequences. B) intentions, motivations, and results. C) hypothesis generation, determination of control group, and testing of hypothesis. D) id, ego, and superego.
Economics
Which measure of inflation best reflects changing prices for the average consumer?
A. Headline inflation B. Core inflation C. Hyper inflation D. Nominal inflation
Economics