In long-run equilibrium for a perfectly competitive industry, firms earn ________ economic profits and produce ________.
A. positive; inefficiently
B. zero; inefficiently
C. positive; efficiently
D. zero; efficiently
Answer: D
Economics
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By threatening to lockout the workers, the firm has
a. Eliminated half of the strategies b. Forced the union to choose the best response in the firm's best interest c. Made it in the union's best interest to not strike d. All of the above
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What is fiat money? Why is fiat money important in the United States today?
What will be an ideal response?
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In 1965, Gordon Moore predicted that the number of transistors in a chip would double approximately every
A) 6-12 months. B) 18-24 months. C) five years. D) 10 years. E) none of the above
Economics
The price paid for the use of money is called:
A. Commission B. Royalty C. Interest D. Rent
Economics