Some economists conduct empirical research on the theory of the firm by measuring the degree of technical efficiency achieved by actual firms. What type of research contributions are provided by these studies?

In the long run, a monopolistically competitive firm will produce where:

a. average cost equals price. b. average cost equals marginal revenue. c. marginal revenue equals price. d. marginal cost equals price.

Collateralizable wealth is

A) wealth in non-tangible assets. B) any asset that can be used to obtain a loan. C) wealth that increases and income increases. D) wealth based on mortgage lending.