Which of the following statements is true of the long run?
A) Identical firms can enjoy positive economic profits.
B) Identical firms face an upward-sloping supply curve.
C) Non-identical firms can enjoy positive economic profits.
D) Non-identical firms face a horizontal supply curve.
C
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Refer to Scenario 7.3. When Q = 200, what is the marginal cost?
A) 0 B) 5 C) 10 D) 15 E) 25
The three basic legal forms of business enterprise are
a. monopolists, competitors, and enterprises. b. vertical, horizontal, and conglomerate corporations. c. conglomerates, multinationals, and partnerships. d. proprietorships, partnerships, and corporations.
In the long run, a profit-maximizing firm in a monopolistically competitive market operates at
a. efficient scale. b. a level of output at which average total cost is rising. c. a level of output at which average total cost is falling. d. the level of output at which total revenue is maximized.
Under current legislation, Americans can place a fraction of their incomes into non-taxable, qualified college accounts. This policy the incentive to save for college education. (Fill in the blank)
What will be an ideal response?