Money serves as all of the following EXCEPT
A) a medium of exchange.
B) a unit of account.
C) a store of value.
D) a symbol that is made of or can be redeemed for a fixed amount of precious metal.
E) a highly liquid asset.
D
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Failure to account for the increased transportation costs that would result from building fewer and more centrally located production facilities could result in firm managers selecting a scale of operation that is larger than the optimum
Indicate whether the statement is true or false
The short-run supply curve for a purely competitive industry can be found by:
A. multiplying the AVC curve of the representative firm by the number of firms in the industry. B. adding horizontally the AVC curves of all firms. C. summing horizontally the segments of the MC curves lying above the AVC curve for all firms. D. adding horizontally the immediate market period supply curves of each firm.