Which of the following are examples of perfectly competitive markets?
A) Wheat
B) Textiles
C) Gold
D) The stock market
E) all of the above
E
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A firm's profit is
A) usually negative when opportunity costs are included. B) the difference between marginal revenue and marginal cost. C) the opportunity cost of the firm's shareholders. D) the difference between revenue and cost.
A patent protects an inventor's creation from being copied or stolen for a period of
A) 10 years. B) 20 years. C) 30 years. D) 50 years.
Betty goes out to enjoy a bouffe with her friend instead of practicing calculus problems for her maths examination that is due the following day. This implies that the opportunity cost of the bouffe to Betty is zero
a. True b. False Indicate whether the statement is true or false
The Friedman natural rate theory is based on rational expectations and is also called the new classical theory
Indicate whether the statement is true or false