Rational expectations theory predicts that people's expectations of higher inflation will adjust immediately, leading to an immediate decrease in the actual inflation rate

A decrease in population shifts the production possibilities frontier outwards over time

Indicate whether the statement is true or false

Consider monopoly, monopolistic competition, and perfect competition. In which of these three market structures does a profit-maximizing firm charge a price that exceeds marginal cost?

a. monopoly only b. monopoly and monopolistic competition only c. monopoly, monopolistic competition, and perfect competition d. The answer cannot be determined without knowing whether the market is in the long run or short run.