Perfectly competitive firms always earn economic profits in the short run.
Answer the following statement true (T) or false (F)
False
There is no guarantee that any firm will earn an economic profit in the short or long run.
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Which of the following is true?
a. The size of the national debt currently is about the same size as it was during World War II. b. The national debt increases in size whenever the federal government has a surplus budget. c. The national debt's size decreased steadily after 1980. d. The current U.S. national debt is over $16.0 trillion.
An increase in government expenditure can crowd out consumption and investment expenditure.
Answer the following statement true (T) or false (F)
What is the relationship between debt intolerance and the inflation tax?
What will be an ideal response?
Which of the following is a valid criticism of unregulated monopoly?
a. Monopoly limits the options available to consumers. b. Relative to a competitive market, a monopolist generally will produce too great an output. c. Profit-maximizing monopolists will fail to produce at the lowest possible cost. d. A monopoly's output will often be more than if the market were competitive.