When does a firm get a normal return on the use of its resources?
a. at high economic profits in the short run
b. at high economic profits in the long run
c. at zero economic profits in the short run
d. at zero economic profits in the long run
d. at zero economic profits in the long run
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Using a graph, illustrate what the market effects of a quota, a tariff, or a complete ban on imports would be
What will be an ideal response?
Equity instruments are traded in the ________ market
A) money B) bond C) capital D) commodities
Which of the following is used by lenders to reduce the problems that arise from asymmetries of information?
A) patent contracts B) collateral C) decreased interest rates D) restrictive contents
At his profit-maximizing level of output, a monopolist's average total cost curve is tangent to his demand curve. The monopolist
a. is earning a negative economic profit. b. may or may not be earning a negative economic profit. c. is earning zero economic profit. d. is earning a positive economic profit.