When all firms and potential firms in a market have the same cost curves, the long-run equilibrium of a competitive market with free entry and exit will be characterized by firms
a. earning small but positive economic profits.
b. facing the prospect of future losses.
c. operating at the efficient scale.
d. that work together to raise market prices.
c
Economics
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Which of the following would likely cause the dollar to appreciate?
a) Rising interest rates in the United States. b) An increase in United States citizens' preference for foreign goods. c) Income growth of the United States exceeding that of other countries. d) Rising inflation in the United States.
Economics
Personal consumption expenditures are the largest component of GDP
a. True b. False Indicate whether the statement is true or false
Economics