Competitive firms will always try to earn more than a normal profit by doing the following, except:
A. Adopting better production technology
B. Improving their business organization and operation
C. Developing new products
D. Raising the prices of their existing products
D. Raising the prices of their existing products
You might also like to view...
If bond prices decrease, then the
A. transactions demand for money will decrease. B. interest rate increases. C. interest rate decreases. D. transactions demand for money will increase.
Give 4 examples of situations that would cause the DD-curve to shift to the left
What will be an ideal response?
Medicare subsides will cause people to
A) consume less medical services than in the absence of the subsidies. B) consume more medical services than in the absence of the subsidies. C) consume the same amount medical services as they would if there were no subsidies. D) be sicker because of inferior care.
As more firms enter the market,
a. individual firms produce more b. advertising increases c. demand curves become more elastic d. demand curves become more inelastic e. cross elasticities among the goods in the market decrease