U.S. educational achievements ________
A) began to stagnate in the 1970s
B) have always fallen behind our European and Asian counterparts
C) have not had a measurable effect on U.S. growth rates
D) have not been duplicated outside the U.S.
A
Economics
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In the long run, a perfectly competitive firm makes zero economic profit. What incentive does the firm have to stay in business if it is making zero economic profit?
What will be an ideal response?
Economics
Xavier produces and sells tomatoes in a purely competitive market. This implies that Xavier's marginal revenue from an extra unit of tomatoes is always equal to the:
A. Unit price B. Average cost C. Variable cost D. Unit profit
Economics