All of the statements about Roosevelt’s group of advisers, known as the “Brain Trust,” are true EXCEPT:

As a perfectly competitive firm’s output increases, its total revenue ________ and its total cost ________.

The corn market is perfectly competitive, with thousands of corn farmers. In the 2000s, the price of corn soared so that new farmers entered the corn market. Initially, entry ________ the economic profit of the initial corn farmers and in the long run the initial corn farmers ________.

For a perfectly competitive firm, marginal revenue is

When new firms enter the perfectly competitive Miami bagel market, the market

In the 1920s, movies, radios, and phonographs:

Identify the variable of interest.  What type of variable is it?  

In our sample of 200, we had 60 students that said they usually eat breakfast.  Find

Use the following set up for the next 7 questions.   Suppose that 35 % of all Longwood University students usually eat breakfast. We ask a sample of 200 students whether they usually eat breakfast.  

Upton Sinclair: