When an economist states that a firm is earning zero economic profit, this statement implies that the firm
a. will be forced out of business unless market conditions change.
b. is doing as well as it could in any other line of business.
c. is earning a zero rate of return on its assets.
d. could earn a higher rate of return in other industries.
B
Economics
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The total demand for a public good is found by
A) horizontally summing all individual demands. B) vertically summing all individual demands. C) finding the demand from the median voter. D) dividing the marginal cost of the good by the number of voters.
Economics
Which of the following acts prohibits directors of one company from sitting on the board of a competitor?
a. Sherman Act b. Federal Trade Commission Act c. Robinson-Patman Act d. Clayton Act
Economics