In terms of production possibilities curves, the benefits of trade between two nations are that each nation moves to a higher:
a. standard of living. b. consumption possibilities combination.
c. both a and b. d. neither a nor b.
c
Economics
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If price is between AVC and ATC, the best and most practical thing for a perfectly competitive firm to do is
A) raise prices. B) lower prices to gain revenue from extra volume. C) shut down immediately, but not liquidate the business. D) shut down immediately and liquidate the business. E) continue operating, but plan to go out of business.
Economics
Use the following graph for the federal funds market to answer the next question.
If the Fed wants the federal funds rate to be at if1, what quantity of reserves do they need to make available to banks?
A. Qf1 B. Qf2 C. Qf3 D. It cannot be determined with the information given.
Economics