When a firm has an accounting profit that is negative, it
A) will never produce output, even in the short run.
B) may still have economic profit.
C) has total revenue that is less than total cost.
D) cannot be producing where price equals marginal cost.
C
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Explain why policies designed to reduce urban unemployment may not greatly reduce poverty in developing countries
What will be an ideal response?
Which of the following is characteristic of monopolistically competitive industries? a. Product differentiation
b. A substantial likelihood of collusion. c. Relatively small market shares of each producer. d. Both (a) and (c) are characteristics of monopolistically competitive industries.
The Taiwanese government allows tax credits for domestic producers who compete with manufacturers in First World nations. This suggests that Taiwan engages in _____
a. trade protectionism b. export substitution c. foreign exchange market intervention d. import substitution e. voluntary export restrictions
A university's football stadium is never more than half-full during football games. This indicates
a. the ticket price is above the equilibrium price.
b. the ticket price is below the equilibrium price.
c. the ticket price is at the equilibrium price.
d. nothing about the equilibrium price.