In Figure 5.8, if the supply curve moves from S2 to S3,
A. the firm will go from making normal profits to a loss.
B. the firm will go from making an economic profit to a normal profit.
C. the firm will go from making an economic profit to a loss.
D. the firm will make a smaller economic profit than they used to.
Answer: A
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The capital and financial account is the record of
A) the nation's imports and exports of capital goods. B) foreign investment in the nation minus the nation's investment abroad. C) a nation's international trading, borrowing, and lending. D) changes in the government's holdings of foreign currency. E) payments for imports, receipts for exports, net interest, and net transfers.
Refer to Table 12-4. If the market price is $45 the firm will produce
A) 60 units. B) 80 units. C) 100 units D) 120 units
A Texas oil woman would like to increase the oil produced from her oil fields. Since it takes over a year to drill new wells, she opts instead for increasing labor and other variable inputs to produce more oil from existing wells. She is making a short-run production decision
a. True b. False Indicate whether the statement is true or false
The agency most responsible for Japan's industrial policy:
a. MITI b. The central bank c. The finance ministry d. The prime minister e. The emperor