Which statement is true about the perfect competitor in the short run?
A. He may make a profit, but he won't take a loss.
B. He may take a loss, but he won't make a profit.
C. He will break-even.
D. None of the statements are true.
D. None of the statements are true.
You might also like to view...
The wage gap between skilled and unskilled worker has
a. risen; economists argue that this may be due in part to technological progress. b. risen; economists argue that none of the rise is due to technological progress. c. fallen; economists argue that this may be due in part to technological progress. d. fallen; economists argue that none of the fall is due to technological progress.
Which of the following would NOT be considered price discrimination?
A. charging business travelers more money than leisure travelers for plane tickets B. charging houses in expensive neighborhoods more money for mowing the same size lawn than in a less expensive neighborhood C. charging a lower price for dry cleaning men's shirts than women's shirts D. charging more money for a large luxury car than a small economy car
The unemployment rate is usually ________ during a depression
A) below 3% B) above 20% C) between 3% to 5% D) between 5% to 10%
A firm's total revenue minus its total opportunity cost is called its
A) accounting profit. B) normal profit. C) economic profit. D) abnormal profit. E) entrepreneur's profit.