Refer to Figure 23.5 for a perfectly competitive firm. If this firm produces the level of output corresponding to point B in the short run, it will earn
A. The maximum profit possible.
B. A loss.
C. Zero economic profit.
D. A profit, although not the maximum profit possible.
Answer: C
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With which country did the Debt Crisis of the early 1980s begin?
A) France B) Mexico C) Argentina D) Japan E) Germany
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What will be an ideal response?
Suppose there is an increase in the saving rate. Explain what effect this will have on output, output per worker, the rate of growth of output, and the rate of growth of output per worker
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If Apple, a company that produces smartphones, purchases a company that specializes in developing phone apps, we would have an example of
A) a horizontal merger. B) a vertical merger. C) a monopoly. D) excessive product differentiation.