A firm that generates zero economic profit usually has
A) negative business profit.
B) zero business profit.
C) positive business profit.
D) business profit equal to half the total revenue.
C
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If net exports decrease by $20 billion and the economy's MPC is .5, the aggregate demand curve will shift ________.
A. rightward by $20 billion at each price level B. rightward by $40 billion at each price level C. leftward by $40 billion at each price level D. leftward by $20 billion at each price level
Countries like Malaysia and Thailand that tried to maintain overvalued currencies in the late 1990s inevitably faced increased
a. balance of payments surpluses. b. runs on their currencies. c. balance of payments deficits. d. both b and c.
The period of growth in real GDP between the trough of the business cycle and the next peak is called the:
A. recessionary phase. B. recovery phase. C. contractionary phase. D. cyclical phase.
Which statement is true?
A. An effective price ceiling is above equilibrium price and causes surpluses. B. An effective price ceiling is above equilibrium price and causes shortages. C. An effective price ceiling is below equilibrium price and causes surpluses. D. An effective price ceiling is below equilibrium price and causes shortages.