Permanent tax cuts have a larger impact on consumption spending than temporary ones

"In the long run, a perfectly competitive firm's average total cost is always below the market clearing price." Agree or disagree? Why?

What will be an ideal response?

At the last board meeting a member proposed that the Marshall Lions Club lower its hamburger price at the Celebrate Marshall Festival. He argued this would sell more hamburgers for charity

a. He is wrong. b. Revenues would decrease. c. Revenues would rise. d. Revenues are not what matters. e. Profits would increase.