From the economic point of view, what's worse, profit or loss?
A) Profit
B) Loss
C) They are equally bad.
D) The question is meaningless as stated.
D
Economics
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In the long run, firms in monopolistic competition earn zero economic profit because
A) firms are free to enter and exit. B) their products are similar but slightly different. C) of over-reliance on product marketing. D) of collusion among the various sellers. E) their demand curves are horizontal.
Economics
Which of the following most accurately describes what the text says about mercantilists?
a. They tried to build up the military power of their economies. b. They tried to produce full employment. c. They confused gold and silver with true wealth. d. They were merely spokesmen for special interest groups.
Economics