The existence of economic profits in a competitive market

Table 1.1 Total Output (Q) Total Cost (TC) 0 1 2 3 4 5 6 7 8 1,000 2,000 2,800 3,500 4,000 4,500 5,200 6,000 7,000 Refer to Table 1.1. Marginal cost (MC) of the fifth unit of output is $___

Macroeconomic policy

When 95% of the students in your economics receive a flu shot, the remaining 5% have less chance of getting sick with the flu. This is an example of a(n)

If, after you buy a car with airbags, you start to drive recklessly, it would be an illustration of

The international agency involved in business behavior, and studies cases in which an industry in one country accuses competitors in another country of dumping is the

A household is defined as

The Federal Reserve is run by

An import constitutes a

Table 1.1 Total Output (Q) Total Cost (TC) 0 1 2 3 4 5 6 7 8 1,000 2,000 2,800 3,500 4,000 4,500 5,200 6,000 7,000 Refer to Table 1.1. Average total cost (ATC) at 8 units of output is $___