If a firm chooses to produce output at the point where MR equals MC,
a. then TR - TC will be maximized if there is a profit
b. economic profits will be zero
c. there will be positive accounting profits
d. there will be positive economic profits
e. average cost must equal average revenue
A
Economics
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The difference between the real interest rate and the nominal interest rate gives the inflation rate in an economy in a particular year
a. True b. False Indicate whether the statement is true or false
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Upon which of the following industries is a restrictive monetary policy likely to be most effective?
A. Furniture. B. Clothing. C. Food processing. D. Residential construction.
Economics