In the long run, a perfectly competitive firm maximizes profit so P = MC = AC
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refer to Table 21-2. Using the table above, what is the approximate growth rate of real GDP from 2014 to 2015?
A) 1% B) 2% C) 3% D) 4%
Dividend refers to
A. a corporation’s regular payments to lenders. B. a payment of part of the corporation’s profits that are distributed to stockholders. C. a lender’s legal claim on the assets of a bankrupt corporation. D. a prepayment of a corporation’s legal obligation.
According to the Taylor rule,
a. the Fed would have the discretion to choose an appropriate inflation rate b. the Fed would announce targets for the inflation rate and real GDP c. the Fed would allow the inflation rate to increase by about 0.5 percent per year d. the Fed would allow the price level to increase by about 0.5 percent per year e. Congress would set an annual inflation rate target
William Julius Wilson believes that the rise of black urban poverty was caused by each of the following except
A. the rise of welfare dependency. B. racism. C. the decline of smokestack industries. D. the exodus from the ghettos of the black middle and working classes.