Which of the following is true in both perfect competition and monopoly?
a. Firms produce a differentiated product.
b. Firms cannot earn economic profit in the long run.
c. Individual firms have no ability to control the price of their output but must accept the market price.
d. Firms go out of business in the long run if total revenue cannot cover total cost.
e. Firms can earn economic profit in the long run.
D
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Why are the governments of developed countries concerned about the quality of education in their countries? What effect does education play in determining the country's economic growth rate and its standard of living? Why does it have this effect?
What will be an ideal response?
Moody's gives junk bonds a rating below
A) Aaa. B) Aa. C) A. D) Baa.
Use the above table. What will the output level be when external costs are internalized with a tax?
A) 4 B) 5 C) 6 D) 7
A person who works part-time is considered to be:
a. employed b. unemployed. c. out of the labor force. d. overemployed.