Firms in which type of market make zero economic profit in the long run?
A) perfect competition and monopolistic competition
B) monopoly
C) perfect competition
D) monopolistic competition
A
Economics
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An example of a money flow in the circular flow diagram is
A) a student's payment of tuition to her university. B) the government's operation of the court system. C) the government's financing of the national debt. D) a firm's production of goods to sell to a foreign country. E) a farmer's use of land to grow wheat.
Economics
The earliest statement of the principle of comparative advantage is associated with
A) David Hume. B) David Ricardo. C) Adam Smith. D) Eli Heckscher. E) Bertil Ohlin.
Economics