A firm cannot control all of the factors that allow it to make economic profits. Which of the following is an example of an uncontrollable factor?
A) hiring competent managers
B) input prices
C) product differentiation
D) producing at a lower average total cost than competing firms
B
Economics
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The Sherman Antitrust Act was passed in:
a. 1890. b. 1914. c. 1929. d. 1933.
Economics
In the _____, all costs are _____
Fill in the blank(s) with the appropriate word(s).
Economics
The low point in the business cycle is referred to as the
A. peak. B. expansion. C. boom. D. trough.
Economics
A price level increase tends to reduce net exports, thereby reducing the amount of real goods and services purchased in the United States. Economists refer to this phenomenon as
A) the barrier effect. B) the Gross Domestic Product (GDP) effect. C) the open-economy effect. D) the wealth effect.
Economics