When a firm in a competitive market is earning profits, this indicates that the firm is
a. exploiting consumers.
b. increasing the value of resources.
c. blocking the entry of competing firms.
d. reducing overall wealth in the market.
B
Economics
You might also like to view...
What are the two basic types of economic systems?
What will be an ideal response?
Economics
Ignoring the government and foreign sectors, equilibrium real Gross Domestic Product (GDP) is determined by
A. the intersection of the planned saving and planned consumption schedules. B. the intersection of the consumption function with the 45-degree line. C. finding the real Gross Domestic Product (GDP) for which real savings are zero. D. the intersection of the planned saving and planned investment schedules.
Economics