Free entry eliminates long-run profits for firms in competitive and monopolistic industries
a. True
b. False
Indicate whether the statement is true or false
True
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Hold the prices of goods, as well as Amy’s preferences, constant. If Amy’s income increases, then
a. both her indifference curves and budget constraint change. b. her indifference curves change, but her budget constraint does not change. c. her budget constraint changes, but her indifference curves do not change. d. neither her indifference curves nor her budget constraint change.
Refer to Scenario 12.1. What is the probability of neither Simon nor Paula trying to rescue the man?
A) 9% B) 21% C) 30% D) 49%
In November 2008, the Fed began its first round of quantitative easing. In total, the Fed conducted ________ rounds of quantitative easing before ending the program in October 2014
A) 2 B) 3 C) 4 D) 5
The shift from wanting to own all to owning only what is needed is an example of a _________________
a. Paradigm shift b. Goal re-evaluation c. Reformation d. Retro-change