The perfect competitor shown in the graph above is in the
A. short run making a profit.
B. short run taking a loss.
C. long run making a profit.
D. long run breaking even.
D. long run breaking even.
You might also like to view...
Suppose a firm in each of the two markets listed below were to increase its price by 15 percent. In which pair would the firm in the first market listed experience a dramatic decline in sales, but the firm in the second market listed would not?
a. cotton and soybeans b. gasoline and corn c. #2 lead pencils and college textbooks d. electricity and cable television
A college degree makes a person more productive according to
a. both the human-capital and the signaling theories of education. b. the human-capital but not the signaling theory of education. c. the signaling but not the human-capital theory of education. d. neither the human-capital nor the signaling theory of education.
Which of the following describes the time period during which the international monetary system operated on a managed float system?
a. From the late 19th century until the beginning of World War I. b. In the period between World War I and World War II. c. During the period of the Bretton Woods agreement from 1944 to 1971. d. Since the end of the Bretton Woods agreement.
If the nominal interest rate is high and rising, a possible cause is
A) increased lending activity. B) a rising inflation rate. C) a falling real interest rates. D) increased government borrowing.