An economic profit of zero indicates a satisfactory situation for the firm
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
Although Coca-Cola and PepsiCo are major players in the soft drink industry, the large number of other competing firms means that the industry is most accurately characterized as monopolistically competitive
Indicate whether the statement is true or false
According to the graph shown, the profit being earned by this monopolist is:
This graph shows the cost and revenue curves faced by a monopoly.
A. (P3 P0) ×Q1
B. (P3 P1) × Q1
C. (P1 P0) × Q1
D. (P3 P0)/Q1
Banks cannot influence the money supply if they are required to hold all deposits in reserve
a. True b. False Indicate whether the statement is true or false
Suppose a country imposes new restrictions on how many hours people can work. If these restrictions reduce the total number of hours worked in the economy, but all other factors that determine output are held fixed, then
a. productivity and output both rise. b. productivity rises and output falls. c. productivity falls and output rises. d. productivity and output fall.