It is possible that a firm in a perfectly competitive market earns a negative profit in the long run.
Answer the following statement true (T) or false (F)
False
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An optimal decision is one that is selected based on an analysis of
A. explicit costs but not implicit costs. B. implicit costs but not explicit costs. C. both explicit costs and implicit costs. D. neither explicit costs nor implicit costs.
Options are contracts that give the purchasers the
A) option to buy or sell an underlying asset. B) obligation to buy or sell an underlying asset. C) right to hold an underlying asset. D) right to switch payment streams.
If all poor families had the same income and no more than 4 persons, nearly one-eighth of the nonaged poor would no longer be counted as poor
Indicate whether the statement is true or false
The major determinant of an individual's income is
a. his personality-if the coworkers and the boss like him. b. if he earns a salary or if he is paid by the hour. c. how productive he is combined with demand for what he produces. d. whether or not his family is wealthy