For years, economists believed that market structure explained the ability of some firms to earn economic profits. Today, economists and business strategists put greater emphasis on
A) the number of countries in which a firm conducts business and the number of employees the firm has in each country.
B) the number of years a firm has been in business and the average price of the products sold by the firm.
C) the characteristics of individual firms and the strategies their managements use to continue to earn economic profits.
D) the size of a firm relative to the industry average and the number of firms in the domestic industry.
C
You might also like to view...
The above table gives the demand schedule for Billy Bob's BBQ ribs. The price elasticity of demand for Billy Bob's ribs over the price range of $3 to $1 is equal to
A) 4.00. B) 2.00. C) 0.50. D) 0.25.
The nominal interest rate is eight percent and the consumer price index rises from 140 to 147 . What is the real interest rate?
Since the 1960s, development proceeded without many natural resources in
A. Canada. B. Japan. C. Saudi Arabia. D. all of the options are correct.
Refer to the budget line shown in the diagram. If the consumer's money income is $20, which of the following combinations of goods is unattainable?
A. 4 units of C and 6 units of D.
B. 5 units of C and no units of D.
C. 1 unit of C and 8 units of D.
D. 2 units of C and 6 units of D.