In the long run, a perfect competitor
A) earns positive profits but will not make losses.
B) earns positive economic profits.
C) earns zero economic profits.
D) produces at its shutdown point.
C
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According to classical theory, desired saving always equals investment due to changes in
A. the interest rate. B. prices. C. wages. D. taxes.
All of the following cost curves are U-shaped except
A) the marginal cost curve. B) the average fixed cost curve. C) the average total cost curve. D) the average variable cost curve.
Marginal cost is
A) the total cost of producing one unit of a good or service. B) the average cost of producing a good or service. C) the difference between the lowest price a firm would have been willing to accept and the price it actually receives. D) the additional cost to a firm of producing one more unit of a good or service.
If the government of a developing country is having difficulty selling bonds to build an irrigation system, it could go to the
A) United Nations International Bank. B) World Bank. C) International Monetary Organization. D) Federal Reserve Bank.