Which statement is false?
A. The perfect competitor is a small firm producing an identical product.
B. A perfectly competitive industry has great mobility of resources.
C. There are many examples of perfectly competitive industries in the United States.
D. The perfectly competitive firm makes zero economic profits in the long run.
C. There are many examples of perfectly competitive industries in the United States.
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The data show that the American national income grew fast enough—even when immigration rates are taken into account—to produce rising income per capita between 1860 and 1910
Indicate whether the statement is true or false
Roy just got a big promotion at work which includes a sizable pay increase. Roy's demand for Ramen Noodles, an inferior good, will likely:
A. decrease, and his demand curve will shift to the right. B. decrease, and his demand curve will shift to the left. C. increase, and his demand curve will shift to the right. D. decrease, causing a movement down along his demand curve.
By the study of "scarcity," an economist means how we best utilize our: a. limited resources in order to promote full employment and price stability. b. unlimited desires in order to best use our unlimited resources
c. unlimited resources to best satisfy our unlimited desires. d. limited resources in order to best satisfy our unlimited desires.
"Black men have become less useful in the emerging economic order; they are socially unwanted, superfluous, and marginal." This view was expressed by
A. Kathryn Edin and Laura Lein. B. Charles Murray and Mickey Kaus. C. William Darity and Samuel Myers. D. Barbara Ehrenreich and Frances Fox Piven.