In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:

The largest merger in American history was that of

a. Chemical Banking and Chase Manhattan in 1996. b. America Online and Time Warner in 2000. c. Gillette's acquisition of Duracell in 1985. d. Credit Suisse's acquisition of Northern Rock in 2007.

In the long run, each firm in a competitive industry earns

a. zero accounting profits. b. zero economic profits. c. positive economic profits. d. Both a and b are correct.