If the firms in a competitive price-searcher market are earning zero economic profit, this indicates that the
a. market is not in long-run equilibrium.
b. firms are earning the normal rate of return.
c. firms are performing worse than the firms in other markets.
d. firms are performing better than firms in other markets.
B
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In financial markets, when a firm issuing new securities has previously issued securities, these securities are called
A) seasoned issues. B) an initial public offering. C) secondary issues. D) investment-grade issues.
The antitrust legislation that made it illegal for a firm to buy a competitor's patents, plant, and equipment was the
a. Sherman Antitrust Act b. Cellar-Kefauver Act c. Robinson-Patman Act d. Clayton Act e. FTC Act
The short-run market supply curve in a price-taker industry equals the horizontal sum of the individual firm's
a. MC curves above AVC. b. AVC curves above marginal revenue. c. MC curves above ATC. d. MC curves between AVC and ATC.
In the United States, the incidence of poverty has declined since the 1970s.
Answer the following statement true (T) or false (F)