In the short run, the perfectly competitive firm will always earn an economic profit when
A) P = ATC.
B) P > AVC.
C) P = MC.
D) P > ATC.
D
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How does the open-economy IS-MP model incorporate net exports with a fixed exchange rate system?
What will be an ideal response?
Other things the same, if the price level falls, people
a. increase foreign bond purchases, so the dollar appreciates. b. increase foreign bond purchases, so the dollar depreciates. c. increase domestic bond purchases, so the dollar appreciates. d. increase domestic bond purchases, so the dollar depreciates.
Which would not be considered as capital (or an economic resource) by an economist?
a. A crane used by a building contractor b. A share of corporate stock issued by General Motors c. An automobile used by General Electric d. A razor used by a barber
A state with "right-to-work" laws would most likely have
A) higher employment levels than neighboring states without such laws. B) more workers' benefits than neighboring states without such laws. C) more union workers than neighboring states without such laws. D) more worker safety requirements than neighboring states without such laws.