Suppose the equilibrium price in a perfectly competitive industry is $100 and a firm in the industry charges $112 . Which of the following will happen?
a. The firm will not sell any of its output.
b. The firm will sell more output than its competitors.
c. The firm's profits will increase.
d. The firm's revenue will increase.
e. The firm will gradually take over the entire industry.
A
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Suppose a tornado ravages a city, causing 5 million dollars in expenditures on new construction and healthcare for the victims. Those new expenditures
A) would be added to the gross domestic product account. B) would be subtracted from the gross domestic product account. C) would be added to the gross domestic product account and subtracted from the national income account. D) would impact GDP in none of the above ways.
Most cohesion funds in the EU budget go to the wealthier EU member nations
Indicate whether the statement is true or false