It is possible to distinguish a monopoly from perfect competition by noting that only competitive firms can earn economic profits in the short run.
Answer the following statement true (T) or false (F)
False
Economics
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Goods that are nonrival and nonexcludable are called
A) external goods. B) public goods. C) private goods. D) free goods.
Economics
Interest and principal on long-term debt are considered
a. long-term liabilities b. fixed liabilities c. liquid liabilities d. general liabilities e. current liabilities
Economics
When lumber from Brazilian forests is used by a U.S.-owned company to produce furniture in Canada, the value of the furniture produced will be counted as a final good in
A) U.S. GDP. B) Canada's GDP. C) Brazil's GDP. D) Brazil's GNP.
Economics
The United States
A. has sometimes attained productive efficiency. B. usually attains productive efficiency. C. never attained productive efficiency.
Economics