A perfectly competitive firm may earn economic profits in
a. only the short run.
b. only the long run.
c. the short run and the long run.
d. neither the short run nor the long run.
A
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a. True b. False Indicate whether the statement is true or false
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a. True b. False Indicate whether the statement is true or false
A consumer expenditure survey reports the following information on entertainment spending: 20152016 PriceQuantityPriceQuantityMovies$75$87Concerts$302$352Music$167$1510 Using 2015 as the base year, by how much does a "cost of entertainment" index increase between 2015 and 2016?
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