Perfectly competitive firms earn zero economic profit in the long run
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Refute the claim by mercantilists who claimed that without severe restrictions on international trade and payments, a country might find itself impoverished and without an adequate supply of circulating monetary gold as a result of balance of
payments deficits.
During the Great Depression, the money supply fell 28%. During that same time, the monetary base ____ and the currency-to-deposit ratio and reserve-to-deposit ratios both _____
a. rose; fell b. rose; rose c. fell; rose d. fell; fell
Scarcity means we are unable to have as much as we would like to have
a. True b. False Indicate whether the statement is true or false
Which of the following types of mergers are of greater concern as being anticompetitive among antitrust regulators?
a. Horizontal mergers b. Vertical mergers c. Conglomerate mergers d. Horizontal, vertical and conglomerate mergers are of equal concern as being anticompetitive