The present value of a given payment in the future ________ when the interest rates fall

The above figure shows a perfectly competitive firm. If the market price is more than $20 per unit, the firm

A) will definitely shut down to minimize its losses. B) will stay open to produce and will make zero economic profit. C) will stay open to produce and will incur an economic loss. D) will stay open to produce and will make an economic profit. E) might shut down but more information is needed about the fixed cost.

A miniature golf course is a good example of where fixed costs become relevant to the decision of when to open and when to close for the season

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