The Federal Trade Commission was established in 1914 to
A. investigate unfair competitive practices.
B. regulate trade of public goods.
C. promote competition in interstate commerce.
D. prevent non-price competition.
Answer: A
Economics
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Which of the following is not a condition of long-run equilibrium for perfectly competitive firms?
a. price is equal to marginal cost b. price is equal to minimum short-run average total cost c. price is equal to minimum long-run average cost d. price is equal to marginal revenue e. economic profit is positive
Economics
The fixed expense on a fixed level of capital in the short run becomes a fixed cost for the firm in the long run.
Answer the following statement true (T) or false (F)
Economics