Economic losses caused several firms to leave the car wash business in Portland, Oregon. Though prices have risen, firms are still leaving the industry. Apparently:
a. economic profits exist but they are not as high as in other industries
b. economic profits are zero and firms won't stay in the industry if they are not earning an economic profit.
c. firms are still generating economic losses.
d. economic profits have decreased because of the exit of existing firms.
c
Economics
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Expected utility is
A) the maximum utility that a person can get from a set of possible outcomes. B) the probability-weighted mean of the utility gained from a set of possible outcomes. C) negative for risk-averse people. D) indeterminant for risk preferring people.
Economics
Use the market for central bank money to answer this question. Graphically illustrate and explain what effect an increase in the reserve deposit ratio (?) will have on this market and on the equilibrium interest rate
What will be an ideal response?
Economics