New investors are not attracted to an industry and current ones are not exiting the industry if firms in the industry are
A. earning an accounting profit.
B. earning an economic profit.
C. breaking even.
D. suffering an economic loss.
Answer: C
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Hardcover books usually cost much more to purchase than do otherwise identical paperback editions of the same book because
A) hardcover books typically last longer. B) the demand for hardcover books is typically less elastic than the demand for paperback books at the same price. C) the marginal cost of producing hardcover books typically rises as output increases. D) the marginal cost of producing paperback books typically falls as output increases. E) the mergers in the book-publishing industry have encouraged price discrimination.
In order for a firm to receive monopoly profits, there must be
A) homogeneous products. B) barriers to market entry. C) mutual interdependence among firms. D) free entry and exit to the market.
Both the monetarist view of the economy and the simple quantity theory of money hold that velocity is constant
Indicate whether the statement is true or false
Discuss several of the hypotheses concerning the reduction in productivity growth in the mid-1970s
What will be an ideal response?