Entry barriers exist in a perfectly competitive industry
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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A nation's gross domestic product (GDP):
A. can be found by summing C + I g + G + X n . B. is the dollar value of the total output produced by its citizens, regardless of where they are living. C. can be found by summing C + S + G + X n . D. is always some amount less than its NDP.
Economics
An optimal allocation of resources is one which is
A. unfair. B. fair. C. efficient. D. inefficient.
Economics