Long-run economic profit does not exist for fixed factors like land because
A) bidding drives up the price of the factor until no economic profit exists.
B) there is no market for such factors.
C) these factors have L-shaped isoquants.
D) these factors will earn economic profits.
A
Economics
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Restaurants' demand for cooks and waiters is inseparably linked to the supply of __________
Fill in the blank(s) with correct word
Economics
The joining of a firm with another to which it sells an output or from which it buys an input is known as
A. economies to scale. B. a conglomerate merger. C. a horizontal merger. D. a vertical merger.
Economics