Which of the following firms will eventually reach zero economic profits?
a. The loss taken by VCW, Inc. causes suppliers to exit the industry and the market supply curve to shift left.
b. The profit made by Median Enterprises causes suppliers to enter the industry and the market supply curve to shift right.
c. TransFit, Inc.’s stable performance has no effect on the market supply curve.
d. GlobalLink, Ltd.’s poor performance causes suppliers to exit the industry and the market supply curve to remain stable.
b. The profit made by Median Enterprises causes suppliers to enter the industry and the market supply curve to shift right.
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The principle of diminishing marginal utility says that
A) marginal utility is negative as the quantity of the good consumed increases. B) total utility decreases as the quantity of the good consumed increases. C) total utility increases by smaller and smaller amounts as the quantity of the good consumed increases. D) total utility increases by larger and larger amounts as the quantity of the good consumed increases.
Which of the following generation categories has the largest population in the United States in 2015?
A) the baby boomers B) generation X C) the centenarians D) the millennials