Firms that do not reach their minimum long run average cost must, to avoid continued losses, either adjust their scale or leave the industry

Open-market operation means buying and selling of ________ by the ________ in an effort to influence money supply

a. equity shares; president b. government securities; Fed c. mutual fund; government d. commodities; public

The short-run supply curve of a perfectly competitive firm

A. intersects the minimum point of its short-run average total cost curve but not its short-run average variable cost curve. B. intersects the minimum point of its short-run average variable cost curve but not its short-run average total cost curve. C. intersects the minimum point of both its short-run average variable cost and its short-run average total cost curves. D. intersects the minimum point of its short-run average total cost curve and may or may not intersect the minimum point of its short-run average variable cost curve.