Comparisons between industrialized nations and less-developed countries indicates that as income rises, the demand for a clean and well-preserved environment
a. increases by a proportional amount.
b. decreases by a proportional amount.
c. increases by a more than proportional amount.
d. decreases by a less than proportional amount.
c. increases by a more than proportional amount.
Economics
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In the above figure, this profit-maximizing monopolistic competitive firm will realize an economic profit of
A) -$1,400. B) $2,100. C) $1,400. D) $700.
Economics
When a perfectly competitive firm experiences positive economic profits
A) the high barriers to entry prevent further competition. B) existing firms exit the industry. C) additional firms enter the industry. D) firms have no incentive to exit or enter the industry.
Economics