Which of the following conditions is most essential if a firm is going to earn long-run economic profits?
a. an inelastic market demand for the product
b. a small number of firms, even though competitors are free to enter the industry
c. a differentiated product
d. restrictions that limit the entry of potential competitors into the industry
D
Economics
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Suppose that the initial supply of loanable funds curve is SLF1. In the figure above, an increase in the real interest rate leads to
i. a shift in the supply of loanable funds curve from SLF1 to SLF2. ii. a shift in the supply of loanable funds curve from SLF1 to SLF3. iii. a movement along the supply of loanable funds curve SLF1. iv. no change whatever. A) i and iii B) iv only C) ii only D) i only E) iii only
Economics
In the last few decades, the United States has generally experienced trade deficits.
a. true b. false
Economics