Suppose a perfectly competitive firm faces the following situation: p = $9, output = 4,000, atc = $9, avc = $6, and mc = $9. which statement accurately describes the firm's and the market's situation? the firm incurs a normal profit; the market is in a long-run equilibrium. the firm incurs losses; the market is in the short run. the firm incurs economic profits; the market is in the short run. the firm incurs economic profits; the market is in a long-run equilibrium.

What is the most direct result of free trade supplying productive resources to areas where they're most needed? a. enhanced efficiency b. lower interest rates c. increasing specialization d. greater competition 2b2t

How many months does the federal budget usually take to prepare

Which is cheaper: eating out or dining in? the mean cost of a flank steak, broccoli, and rice bought at the grocery store is $13.04 (money. msn website, november 7, 2012). a sample of 100 neighborhood restaurants showed a mean price of $12.75 and a standard deviation of $2 for a comparable restaurant meal. a. develop appropriate hypotheses for a test to determine whether the sample data support the conclusion that the mean cost of a restaurant meal is less than fixing a comparable meal at home. b. using the sample from the 100 restaurants, what is the p-value? c. at a = .05, what is your conclusion? d. repeat the preceding hypothesis test using the critical value approach