One World View article is titled "Flat Panels, Thin Margins." New firms continue to enter the industry even though prices are falling because
A. Normal profits are being earned.
B. Economic profits are being earned.
C. Total costs are greater than total revenues.
D. Total costs equal total revenues.
Answer: B
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A sin tax is an example of:
A. a Pigovian tax. B. government policy increasing total surplus in a market. C. a tax that increases the efficiency of a market. D. All of these statements are true.
Which of the following consumer goods and services is most like to suffer declining sales during a recession?
A. haircuts. B. ground beef. C. restaurant meals. D. toothpaste.
) Are wages more flexible upward or downward? Explain what effect this has during a time of expansion and a time of recession.
What will be an ideal response?
The above table shows production points on Sweet-Tooth Land's production possibilities frontier. A movement from ________ represents the greatest opportunity cost of increasing cola production
A) point E to point D B) point D to point C C) point C to point B D) point B to point A