In the short run, a perfectly competitive firm can
A) only make an economic profit.
B) only make zero economic profit.
C) only incur an economic loss.
D) make an economic profit, zero economic profit, or incur an economic loss.
D
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Which of the following will lead to a decrease in the gross domestic product of a country, all other variables remaining unchanged?
A) An increase in exports B) An increase in the expenditure on investment C) An increase in imports D) An increase in the expenditure on consumption
Make use of a graph of the foreign exchange market to show how the Central Bank of Mexico can use an unsterilized intervention to increase the value of its currency, the peso, in terms of the dollar
What will be an ideal response?
Which of the following forces us to choose among alternatives?
a. Value b. Scarcity c. Rarity d. Market mechanism
When average cost is greater than marginal cost, marginal cost must be
a. rising. b. falling. c. constant. d. The direction of change in marginal cost cannot be determined from this information.