A monopolistic ally competitive firm is operating at a short-run level of output where price is $21, average total cost is $15, marginal cost is $13, and marginal revenue is $13. In the short run this firm should:

"Tariffs are necessary for reasons of national security." Discuss the validity of this statement

A production possibilities curve depicts

a. combinations of resources the economy has the capacity to produce b. prices that can be charged for capital and consumption goods c. combinations of prices and outputs that can be produced d. combinations of goods the economy has the capacity to produce e. combinations of resources and prices that the economy can produce