In a perfectly competitive industry, which of the following is a market signal to resource owners?
A. quality of goods
B. the level of exports in the country
C. economic profits
D. the level of subsidies the industry receives
Answer: C
Economics
You might also like to view...
NAFTA benefited Canadian consumers because:
a. of higher wages and more travel opportunity. b. of lower wages but also lower taxes. c. of lower prices but lower quality. d. of lower prices and increased variety.
Economics
If a $1 increase in price leads to a 3-unit decrease in quantity demanded, then demand must be elastic
Indicate whether the statement is true or false
Economics