Refer to the graph below for a purely competitive firm in the short run. What minimum output level should the firm produce just for it to break even?

An economic system is the organizations and methods used to determine:

a. what goods and services are produced. b. how goods and services are produced. c. for whom goods and services are produced. d. all of these.

If the Consumer Price Index was 120 in one year and 115 in the next year, then the rate of inflation from one year to the next was:

A. positive 4.2 percent. B. negative 5.0 percent. C. negative 4.2 percent. D. positive 5.0 percent.