Half of all your potential customers would pay $16 for your product but the other half would only pay $10 . You cannot tell them apart. Your marginal costs are $4 . If you set the price at $10, the expected profit is:

A recessionary gap exists when the level of full-employment output exceeds the equilibrium level of output

Indicate whether the statement is true or false

The U.S. public debt:

A. refers to the debts of all units of government—federal, state, and local. B. consists of the total debt of U.S. households, businesses, and government. C. refers to the collective amount that U.S. citizens and businesses owe to foreigners. D. consists of the historical accumulation of all past federal deficits and surpluses.