In the above figure, at output levels between 5 units and 13 units
A) the firm's accounting profits are negative.
B) total revenue equals total costs.
C) the firm's economic profits are positive.
D) the firm is breaking even.
C
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Which of the following statements represents a correct and sequentially accurate economic explanation?
A) Business taxes rise, investment falls, total expenditures on goods and services falls, AD rises, and the AD curve shifts rightward. B) The dollar depreciates, net exports rise, total expenditures on goods and services rises, AD rises, and the AD curve shifts rightward. C) The interest rate falls, consumption rises, total expenditures on goods and services rises, AD rises, and the AD curve shifts rightward. D) b and c E) a, b, and c
The Chamberlin oligopoly provides a foundation for ________ and differs from the Cournot oligopoly as it assumes firms ________ to each other's actions.
A) tacit collusion; do not respond B) cartels; respond C) tacit collusion; respond D) cartels; do not respond