The Japanese yen makes up the largest portion of the international bond market.

If, for a given output level, a perfectly competitive firm's price is less than its average variable cost, the firm

A) is earning a profit. B) should increase output. C) should increase price. D) should shut down.

Monopolies can misallocate resources by restricting output in an attempt to raise prices and profits

a. True b. False Indicate whether the statement is true or false