Which of the following is true for a firm operating under perfect competition, monopolistic competition, and monopoly?
a. Firms earn positive economic profits in the long run.
b. Firms earn zero economic profits in the long run.
c. Profits are maximized when marginal cost equals marginal revenue.
d. Price equals marginal cost.
c
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Which of the following statements is true?
A) Cultural and geographical conditions of a nation can be considered proximate causes of prosperity. B) Stock of human capital and the geography of a nation can be considered fundamental causes of prosperity. C) Stock of human capital and physical capital available to a nation can be considered proximate causes of prosperity. D) Stock of human capital and the geography of a nation can be considered proximate causes of prosperity.
If a pair-wise majority vote was held to determine which school project gets funded and the voters' preferences are shown in the table, if Ernie sets the agenda which option would he see was voted on first?
A. Library and lab
B. Computer lab and gym
C. Gym and library
D. It doesn’t matter which options are considered first.
In the 1990s, business organizations were
A) flattened. B) turned inside out. C) formed into horizontal structures. D) all of these choices.
Which of the following is the best example of what happens when an equilibrium point is reached?
A. A store that sells its televisions for $999 lowers its price to 899 B. All the stores in a city are selling a certain model of television for 899$ C. some customers decide $899 is too high ad buiy a lower-cost television D. The number of tellevision available at $899 is the same as the number of sales