Perfectly elastic demand curves are irrelevant, since real world demand curves are never perfectly elastic
a. True
b. False
B
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Since the Civil War, the poorest section of the country has been the __________.
Fill in the blank(s) with the appropriate word(s).
Giuseppe's Pizza is a perfectly competitive firm. The firm's costs are shown in the table above. If the market price is $22, the firm will
A) shut down. B) leave the market in the long run. C) stay in the market in the long run. D) incur an economic loss.
Under monopolistic competition, firms make zero economic profit in the long run and produce at the minimum ATC
Indicate whether the statement is true or false
If children go to school and become productive members of society
A) a negative externality is created by the schools. B) a positive externality is created by the schools. C) no externality is created by the schools. D) an externality is created that may be positive or negative.