Which of the following would not occur as a result of a monopolistically competitive firm suffering a short-run economic loss?
A) If the firm does not exit the industry in the long run its demand curve will shift to the right.
B) The firm could exit the industry in the long run.
C) If the firm remains in the industry in the long run it will break even.
D) If the firm does not exit the industry in the long run its demand curve will shift to the left.
D
Economics
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What's another word for "marginal"?
A) Phenomenal B) Additional C) Sentimental D) Detrimental E) Magical
Economics
Gelato ice cream maker shows the following on its balance sheet: revenue $200M, wages $100M, milk expenses $50M, strawberry purchases $5M, and taxes $25M. What is Gelato's contribution to GDP using the income approach?
A) $100M B) $125M C) $145M D) $200M
Economics