Firms with identical cost structures in a competitive market will have an upward sloping market long-run supply curve

Suppose that the equilibrium nominal interest rate is 4 percent and the equilibrium quantity of money is $1 trillion. At any interest rate above 4 percent,

A) less than $1 trillion will be demanded and bond prices will fall. B) more than $1 trillion will be supplied and bond prices will fall. C) there is a shortage of money and the interest rate will rise. D) more than $1 trillion will be supplied and the interest rate will rise. E) less than $1 trillion will be demanded and bond prices will increase.

At the short-run break-even point, the firm is

A) earning zero accounting profit. B) losing money. C) earning zero economic profit. D) ready to shutdown.