Comparing firms in perfectly competitive markets to monopoly firms, which can earn economic profits in the long run?
monopoly firms
Economics
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Define the term "export."
What will be an ideal response?
Economics
If entry is limited due to a limited input, firms in that market earn long run economic profit
Indicate whether the statement is true or false
Economics
If Larry has budget constraint B in the graph shown, what is his opportunity cost of one gallon of milk?
This graph shows three different budget constraints: A, B, and C.
A. It is 6 cases of soda.
B. It is exactly one case of soda.
C. It is less than one case of soda.
D. It is more than one case of soda.
Economics
Knowledge is an example of a positive externality
a. True b. False Indicate whether the statement is true or false
Economics