Firms that price discriminate cannot capture consumer surplus

When an economy grows out of a recession, normally the demand for bonds ________ and the supply of bonds ________, everything else held constant

A) increases; increases B) increases; decreases C) decreases; decreases D) decreases; increases

A perfectly competitive firm decides to shut down if:

a. the price falls below the average-total-cost. b. average revenue falls below the average-variable-cost. c. the price falls below the marginal cost. d. the average revenue curve lies below the marginal cost curve. e. the total revenue is less than total cost.