A perfectly competitive firm earns a profit when price is
A) equal to minimum average variable cost. B) above minimum average total cost.
C) equal to minimum average total cost. D) equal to minimum average fixed cost.
B
Economics
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Many argue that the "soft power" of the U.S. has been reduced, referring to its
a. negotiating ability. b. military presence. c. export level. d. moral leadership.
Economics
A benefit to society of the patent and copyright laws is that those laws
a. help to keep prices down. b. help to prevent a single firm from acquiring ownership of a key resource. c. encourage creative activity. d. discourage the production of inefficient products.
Economics