According to the graph shown, if a firm is producing at Q2, and it is identical to others in the market:
A. profits are not being maximized.
B. firms will enter this market.
C. economic profits are zero.
D. firms will leave this market.
C. economic profits are zero.
Economics
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Retail stores that dedicate one or more aisles to "seasonal" items are engaging in ________
A) just-in-time production B) production smoothing C) work in process D) first degree price discrimination
Economics
Marginal cost is calculated as:
A. the change in output divided by the change in total costs. B. the percentage change in total costs divided by the percentage change in output. C. the change in total cost divided by the change in output. D. total revenue minus total costs.
Economics