Every firm that has the ability to affect the price of the good or service it sells will
A) earn a short-run profit but break even in the long run.
B) shut down in the short run.
C) have a marginal revenue curve that lies below its demand curve.
D) have a perfectly elastic demand curve.
C
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If the price is greater than the marginal cost of producing a good, the seller has
A) no benefit from the sale. B) a loss. C) some producer surplus from the sale. D) some negative consumer surplus from the sale. E) None of the above answers is correct.
Which of the following statements is true about the U.S. economy?
A) Each year, many new jobs are created, but few existing jobs are destroyed, and the unemployed find jobs quickly. B) Each year few jobs are created, and therefore it takes the unemployed a long time to find a new job. C) Each year, few new jobs are created, but few existing jobs are destroyed, keeping unemployment low. D) Each year, many new jobs are created and many existing jobs are destroyed.
The interest rates quoted in the market are known as
What will be an ideal response?
A carbon tax would increase the total volume of greenhouse gases.
Answer the following statement true (T) or false (F)