Archibald's Tattoos is a perfectly competitive firm. The firm's costs are shown in the table above. What is Archibald's shut-down point?

If a firm increases output when MR > MC, then:

a. profit will equal zero. b. profit will increase. c. profit will decrease. d. profit will remain the same. e. the firm is minimizing losses.

The long-run Phillips Curve indicates that macroeconomic policies are effective in increasing output and keeping prices stable in the economy

Indicate whether the statement is true or false