Under perfect competition in the short run,
a. all firms will earn the same profit.
b. more efficient firms can earn higher profits than less efficient firms.
c. less efficient firms can earn higher profits than more efficient firms.
d. less efficient firms will shut down.
b. more efficient firms can earn higher profits than less efficient firms.
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Mortgage-backed securities are similar to bonds in that the investor who buys one receives
A) dividend payments. B) federal insurance to cover the value of the security. C) regular interest payments. D) partial ownership of the company that issued the security.
If the yen price of dollars falls, then the dollar price of yen rises
a. True b. False Indicate whether the statement is true or false
According to the law of supply, as the price of a good increases,
a. buyers will buy more of the good. b. buyers will buy less of the good. c. sellers will produce more of the good. d. sellers will produce less of the good.
What is the relationship between wages and the supply of labor?
What will be an ideal response?