Competitive firms can earn positive profits in the
a. Long run only
b. Long run and the short run
c. Short run only
d. All of the above
c
Economics
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As a result of the financial crisis of 2007-2009, Freddie Mac and Fannie Mae were brought under the direct control of the government
Indicate whether the statement is true or false
Economics
Suppose a firm can hire 100 workers at $8.00 per hour but must pay $8.05 per hour to hire 101 workers. Marginal factor cost (MFC) for the 101st worker is approximately equal to:
A. $8.00. B. $8.05. C. $13.05. D. $13.00.
Economics