In the long run, the economic profit of a firm in a perfectly competitive market
A) will be above zero.
B) will be below zero.
C) will equal zero.
D) can be above, below, or equal to zero.
C
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The quantity of money is $1 billion, the price level is 1.10, and real GDP is $10 billion. What is the velocity of money?
What will be an ideal response?
A buyer’s response to a change in income is an example of a “change in demand.”
Answer the following statement true (T) or false (F)
The monopolist's demand curve is:
A. identical to the market demand curve. B. identical to the marginal revenue curve. C. below the marginal revenue curve. D. a horizontal line at the market price.
If the Fed wants to discourage commercial bank lending, it will:
A. increase the interest paid on reserves held at the Fed. B. decrease the interest paid on reserves held at the Fed. C. buy government securities from commercial banks. D. lower the federal funds rate target.