If a competitive firm cannot earn a profit at any level of output during a given short-run period, then which of the following is FALSE?
A) It will shut down in the short run and wait until the price increases sufficiently.
B) It will exit the industry in the long run.
C) It will operate at a loss in the short run.
D) It will minimize its loss by decreasing output so that price exceeds marginal cost.
D
Economics
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To maximize its profit, a firm will hire more workers as long as
A) marginal revenue exceeds the wage rate. B) marginal revenue is less than the wage rate. C) value of marginal product exceeds the wage rate. D) marginal product exceeds the wage rate.
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The predominant source of multilateral aid is:
a. the European Community. b. the United Nations. c. the Agency for International Development. d. the World Bank. e. the British government.
Economics