In the model of perfect competition,
A) all firms earn zero economic profit in the long run.
B) all firms use the lowest-cost technologies.
C) all firms take the prevailing market price as given.
D) all participants fully exhaust any potential gains from trade.
E) all of the above occur.
E
Economics
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If the price of hot dogs increases, what will happen in the market for potato chips, a complementary good?
a. Demand will increase. b. Quantity demanded will increase. c. Demand will decrease. d. Quantity demanded will decrease. e. Supply will decrease.
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Comparative risk analysis is
a. a risk assessment strategy c. a risk characterization approach b. a risk management strategy d. none of the above
Economics