Economics is the study of how ________ manages its ________ resources to satisfy its wants

When banks fail during a financial crisis, ________

A) the removal of these weak institutions serves to strengthen the financial system B) the elimination of competitors is likely to spark a credit boom C) there is a loss of information that can cause the crisis to worsen D) surviving banks resort to financial engineering to retain customers

Suppose that a firm operating in perfectly competitive market sells 100 units of output. Its total revenues from the sale are $500 . Which of the following statements is correct? (i) Marginal revenue equals $5. (ii) Average revenue equals $5. (iii) Price equals $5

a. (i) only b. (iii) only c. (i) and (ii) only d. (i), (ii), and (iii)