A perfectly competitive firm will not earn an economic profit in the long run, because
A) it is a "price-maker."
B) it faces a perfectly inelastic demand curve.
C) there are no barriers to entry into the industry.
D) it produces differentiated products.
C
Economics
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To attract more aggressive bidding in a common-value auction, as an auctioneer, you should
a. Release no information about the item b. Do not let the bidders examine the item closely c. Do not release any adverse information about the item d. Release maximum information about the item, even if it is adverse
Economics
By current U.S. law, anyone generating, storing, or transporting hazardous waste must pay to clean it up if it leaks or is otherwise discharged into the environment. This law has been in effect
a. since World War II b. since 1960 c. since 1970 d. since 1980 e. only since 1990
Economics