In the short run, perfectly competitive firms ________ but in the long run, perfectly competitive firms ________

A) can incur an economic loss; incur an economic loss
B) can incur economic losses; make an economic profit
C) must make an economic profit; make an economic profit
D) can incur an economic loss; make zero economic profit


D

Economics

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Why is NAFTA controversial? Briefly describe both sides of this controversy

What will be an ideal response?

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If two firms behave as Cournot duopolists, the level of social welfare is lower than if the same firms act as a cartel

Indicate whether the statement is true or false

Economics

Macroeconomics deals with ________ while microeconomics deals with ________

A) choices important to people; choices not important to people B) economywide choices; choices of individuals C) choices that involve money; choices that does not involve money D) choices of rich people; choices of poor people

Economics

Products such as office supplies are examples of

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Economics