If a used-car dealer suffers economic losses, then
A) as a group, its customers were necessarily made worse off.
B) as a group, its competitors necessarily enjoyed economic profits.
C) it must pass its losses onto its future customers.
D) none of the above is true.
D
You might also like to view...
To maximize its profit, the firm in the figure above produces ________ cans per day and ________
A) 0; incurs an economic loss of less than $20 B) between 3 to 5 cans; earns a normal profit C) 10; earns an economic profit of $2.90 D) 10; earns an economic profit of $29 E) more than 10; earns an economic profit
A market shortage occurs if the quantity:
A) demanded is greater than the quantity supplied. B) demanded is less than the quantity supplied. C) demanded is equal to the quantity supplied. D) supplied is greater than the quantity demanded.