The "corporate takeover market" plays a part in handling the conflict between management and __________ in __________-oriented financial systems

Does a competitive long-run equilibrium require cost-minimization?

A) Yes, if firms fail to be as efficient as their competitors, they are driven out of the market. B) No, in the long run, firms make zero profits. C) Yes, if they didn't, even less efficient firms would enter the industry. D) No, because competition ensures their survival.

The long-run aggregate supply curve plays an important role in determining:

A. output in the long run. B. the price level in the short run. C. output in the short run and long run. D. output in the short run.