Free entry and exit of firms is a characteristic of:
A. perfectly competitive industries.
B. all industries in the U. S. economy.
C. centralized economies.
D. industries in which firms are earning positive economic profit.
Answer: A
Economics
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The above figure shows the market for anti-freeze. The government imposes the sales tax shown in the figure on sellers. The sales tax on anti-freeze decreases the quantity of anti-freeze that automobile owners purchase by
A) 0 gallons. B) 1000 gallons. C) 2000 gallons. D) 3000 gallons.
Economics
An improvement in technology would cause each of the isoquants in a firm's isoquant map to shift out away from the origin
Indicate whether the statement is true or false
Economics