A perfectly competitive firm may earn economic profits in
a. only the short run.
b. only the long run.
c. the short run and the long run.
d. neither the short run nor the long run.
A
Economics
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What factors would make you more sensitive or less sensitive to price when purchasing gasoline?
What will be an ideal response?
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Which question is an illustration of a macroeconomic question?
A. Is a corporation unresponsive to the demands of its customers? B. Is a consumer boycott an effective means of reducing a product's price? C. How will the government's budget deficit be affected by public infrastructure projects? D. Are oil companies ripping off consumers by charging exorbitantly high prices for gasoline?
Economics