Which of the following statements is TRUE about the relationship among external, internal and social costs?
A) Social costs will always be higher than external costs.
B) Social costs will always be higher than internal costs.
C) Internal costs will always be higher than external costs.
D) Internal costs will never equal external costs.
A
Economics
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Compare the distribution of income in the United States with the distribution of income in other high-income countries
What will be an ideal response?
Economics
In a perfectly competitive market, positive economic profits act to
A) attract new entrants into the industry. B) drive potential competitors away from the industry. C) prevent reinvestment on the part of firms within the industry. D) signal resource owners elsewhere not to invest their capital in this industry.
Economics