When economic profits are zero for a firm in a perfectly competitive market, it means that:
A. average total costs are zero.
B. price is equal to minimum average total cost.
C. average variable costs are minimized.
D. MR is equal to AVC.
B. price is equal to minimum average total cost.
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Although Progresa/Oportunidades has been successful in Mexico, why might a similar program not work elsewhere?
What will be an ideal response?
Which of the following benefits directly from any increase in the corporation's profitability?
A) a bond holder B) a commercial paper holder C) a shareholder D) a T-bill holder
Suppose a soccer coach has been making $25,000 per year but gives up his coaching job in order to make lace doilies. If his revenue from the sale of these doilies is $50,000 and his materials cost $20,000 . then his economic profit is
a. $5,000 b. $25,000 c. $30,000 d. $50,000 e. $80,000
If cyclical unemployment is negative, then
A. the natural rate of unemployment is getting smaller. B. the actual unemployment rate is below the natural rate of unemployment. C. there have been some errors in classifying the type of unemployment experienced by some people. D. structural unemployment must be increasing.