As long as it does not shut down, a profit-maximizing perfectly competitive firm will
A) always earn an economic profit.
B) produce so that marginal revenue equals marginal cost.
C) produce so that price equals average cost.
D) never set its price equal to its marginal revenue.
B
Economics
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Suppose the base reference period is 1982-1984. If your nominal wage rate is $8.00 per hour when the CPI is 180, what is your real wage rate in 1982-1984 dollars?
What will be an ideal response?
Economics
In the figure above, the equilibrium exchange rate is expressed as $1 U.S. equals
A) $2.00 Canadian. B) $1.50 Canadian. C) $0.50 Canadian. D) none of the above
Economics