Below the short-run shutdown price, the firm
A) is earning positive economic profits.
B) is earning negative economic profits.
C) is making a normal rate of return on its capital investment.
D) may be earning a positive or negative economic profits depending upon costs.
B
Economics
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Real GDP does not show the state of economic welfare in a country in part because GDP omits
I. household production. II. leisure time available. III. the quality of the environment. A) I only B) I and III C) II and III D) I, II and III
Economics
A situation where a consumer's willingness to use an item depends on how many others use it is
A) a positive-sum game. B) a network effect. C) price-leadership. D) a vertical merger.
Economics