Which of the following would tell us that resources are not flowing to their highest valued uses?
A) short-run economic profits
B) short-run economic losses
C) song-run economic profits
D) Some firms are just breaking even.
C
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In reality, because few markets are perfectly competitive, some loss of economic efficiency occurs in the market for nearly every good or service
Indicate whether the statement is true or false
A perpetual payment of $10,000, offered for sale at $125,000, is being offered at an effective yield of
A) 8%. B) 9.2% C) 12.5%. D) 80%. E) 92%.
Answer the following statement(s) true (T) or false (F)
1. China’s acid rain problem is relatively minor because it is among the lowest consumers of coal in the world. 2. Stationary source emissions are controlled primarily through the use of technology-based standards. 3. Emissions limits applicable to new and modified stationary sources are known as New Source Performance Standards (NSPS). 4. Emissions limits used for nonattainment areas are more stringent than those used for PSD areas. 5. Technology-based standards used to control new sources are more lenient than those used to control existing stationary sources.
T-Shirt Enterprises is selling in a purely competitive market. It is producing 3000 units, selling them for $2.00 each. At this level of output, the average total cost is 2.50 and the average variable cost is $2.20. Based on these data, the firm should:
A. Shut down in the short run B. Decrease output to 2500 units C. Continue to produce 3000 units D. Increase output to 3500 units