In the long run the perfect competitor's firm's most efficient output
A. is identical to its most profitable output.
B. is less than its most profitable output.
C. is more than its most profitable output.
A. is identical to its most profitable output.
You might also like to view...
In recent years, which of the following has been negative?
A) net exports of goods and services B) investment C) wages D) government expenditure on goods and services E) consumption expenditure
The United States need never pay off the national debt; it can simply refinance the debt when it comes due. The flaw in thinking that the government must pay it off is based on the fallacy of
a. benefit-cost ratio. b. post hoc, ergo propter hoc. c. composition. d. a priori expectations.
A local restaurant offers an "all you can eat" Sunday brunch for $12. Susan eats four servings, but leaves half of a fifth helping uneaten. Why?
A. Her marginal value of a serving of brunch has fallen below $12. B. Her marginal value of a serving has fallen below $2.36 ($12 divided by 5 servings). C. Her marginal value of food has fallen to zero. D. The total value she places on brunch today exactly equals $12.
If the cyclically adjusted budget shows a deficit of about $100 billion and the actual budget shows a deficit of about $150 billion, it can be concluded that there is:
A. an expansionary fiscal policy. B. a contractionary fiscal policy. C. built-in stability. D. a cyclical deficit.