Which of the following statements is (or are) correct? a. Microsoft is operating where MR=MC b. Microsoft’s profits (producer surplus) is higher than it would be if it operated where P=MC c. Microsoft’s profits per dollar of sales are higher than the profits per dollar of sales of the average American corporation d. Only (a) and (b) are correct e. Answers (a), (b), and (c) are all correct.

True or flase? a. new technological developments can us adapt to depleting sources of natural resources. b. research and development funds from the government to private industry never pay off for the country as a whole; they only increase the profits of rich corporations. c. in order for fledgling industries in poor nations to thrive, they must receive protection from foreign trade. d. countries with few natural resources will always be poor. e. as long as real gdp (gross domestic product) grows at a slower rate than the population, per capita real gdp increases.