If a firm earns zero economic profit in the long run, then it
a. must be in a perfectly competitive market
b. must be in a monopolistically competitive market
c. cannot be in a monopolistically competitive market
d. could be in any of the four major market structures
e. is not in an oligopoly
D
You might also like to view...
The vicious circle of poverty refers to the fact that in LDCs,
a. low living standards lead to declines in population growth. b. too much spending leads to periods of recession. c. people are poor because too much is spent on capital goods. d. there are not enough people in the under-15 age groups. e. poverty leads to low investment in capital goods.
As the size of a nation's outstanding debt gets larger and larger relative to the size of the economy,
a. eventually it will become difficult for the country to borrow in global credit markets. b. the country will have to pay higher real interest rates in order to induce investors to purchase its bonds. c. at some point, the country will be more or less forced to bring spending into line with revenues in order to maintain the confidence of investors. d. all of the above are correct.
In economic analysis, which of the following is considered an injection?
A. Saving B. Taxes C. Imports D. Exports
Which of the following is part of M1?
I. currency in a bank's vault II. cash in your wallet III. checkable deposits IV. savings deposits A) I, II, III, and IV B) I, II, and III C) II and III D) II, III, and IV