True or false? a competitive firm has a continuous marginal cost curve. it finds that as output increases, its marginal cost curve first rises, then falls, then rises again. if it wants to maximize profits, the firm should never produce at a positive output where price equals marginal cost and marginal cost decreases as output increases.

In 2015, lori assigned a paid-up whole life insurance policy to an irrevocable life insurance trust (ilit) for the benefit of her three children. the ilit contained a crummey provision for the benefit of each child. at the time of the transfer, the whole life insurance policy was valued at $200,000, and since lori had not made any other taxable gifts during her lifetime, she did not owe any gift tax. lori died in 2016, and the face value of the whole life insurance policy of $2,000,000 was paid to the ilit. regarding this transfer, how much is included in lori’s gross estate at her death?

What would not cause duff beer’s production possibilities curve to expand in the short run? a. improved manufacturing technology b. additional resources c. increased demand

Which of the following statements about nonverbal communication is most accurate? a. the meanings of some gestures can vary among cultures b. the way an e-mail, letter, memo, or report looks can have either a positive or a negative effect on a receiver c. the manner in which we structure and use time can reveal our personalities and attitudes d. all statements are accurate