Firms in which type of market make zero economic profit in the long run?
A) perfect competition and monopolistic competition
B) monopoly
C) perfect competition
D) monopolistic competition
A
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Wealth is redistributed from debtors to creditors when inflation is
a. high, whether it is expected or not. b. low, whether it is expected or not. c. unexpectedly high. d. unexpectedly low.
Low-cost Eurocurrency loans can be obtained in offshore financial centers.
a. true b. false
Average variable costs equal
A) total variable costs divided by marginal costs. B) total variable costs divided by output. C) the change in marginal costs from producing another unit of output. D) output divided by the change in total costs.
The firm's demand curve for labor is
A. the demand curve for the good produced divided by the price of the good. B. the marginal physical product curve for labor divided by the price of the good. C. the marginal revenue product curve for labor. D. the marginal physical product curve for labor multiplied by the price of labor.