Refer to the table above. What is the marginal benefit that Jenny derives from the fifth unit?

If a firm shuts down, it

A) makes zero economic profit. B) incurs an economic loss equal to its total variable cost. C) incurs an economic loss equal to its total fixed cost. D) makes a normal profit. E) might make an economic profit, zero economic profit, or incur an economic loss.

The short-run Phillips curve is ________ than the long-run Phillips curve

A) flatter B) steeper C) less stable D) Both B and C are correct.