In a long-run equilibrium where firms have identical costs, it is possible that some firms in a competitive market are making a positive economic profit
a. True
b. False
Indicate whether the statement is true or false
False
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The "New Deal" measures introduced in 1933 and 1934 to end the depression
(a) brought about almost complete recovery by the mid-1930s. (b) were not completely successful in ending the Depression, which lasted until the beginning of World War II. (c) actually interfered with recovery, and the Depression worsened in the mid-1930s. (d) were not very successful at first but finally ended the Depression by the late 1930s.
Which statement is FALSE considering both advantages and disadvantages of corporations as a legal business organization?
A) Perhaps the greatest advantage of corporations is that their owners (the shareholders) enjoy limited liability—limited to the value of their shares. B) Legally the corporation continues to exist even if one or more owners cease to be owners. C) Corporations usually are not as well positioned as proprietorships and partnerships to raise large sums of financial capital. D) Separation of ownership and control is a disadvantage of the corporate structure; owners and managers may have different incentives.
A high school student who voluntarily includes a writing sample with their college application is an example of:
A. signaling. B. screening. C. building a reputation. D. statistical discrimination.
The equation of exchange states:
a. MV = PQ. b. MP = VQ. c. MP = V/Q. d. V = M/PQ.