If a firm in a perfectly competitive industry experiences persistent losses, in the long run it should
A) shut down temporarily and wait for market conditions to change.
B) continue to operate if it can raise the demand for its product through advertising and quality improvements.
C) exit the industry.
D) raise its price to cover average total cost.
C
Economics
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What is a government-imposed maximum price at which a good can be sold?
a) a price floor b) a price ceiling c) a price support d) a price equilibrium
Economics
The United States currently is
A) a debtor nation and has been since the end of World War II in 1945. B) a creditor nation and has been since the end of World War II in 1945. C) a debtor nation and has been since 1989. D) a creditor nation and has been one since 1989. E) neither a debtor nation nor a creditor nation.
Economics