Author Question: In the long run, a firm should exit when: A) price is less than average total cost. B) price is ... (Read 92 times)

amal · **on:** Jun 29, 2018

In the long run, a firm should exit when:

A) price is less than average total cost.
B) price is equal to average total cost.
C) price is equal to marginal cost.
D) price is more than marginal cost.

Question 2

Suppose Marquette Bank and Trust has 10 million in total deposits and the required reserve ratio is 7. How many dollars must the bank keep in its vaults or on deposit at a Federal Reserve Bank?

A) 9.3 million
B) 7 million
C) 930,000
D) 700,000
E) None of the aboveit's the bank's own choice.