Positive economic profits exist for a firm in the long run if price is above
a. long-run average cost.
b. long-run marginal cost.
c. long-run total cost.
d. long-run variable cost.
a
Economics
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Firms hire more labor as long as
A) the real wage rate is greater than the additional output the labor produces. B) extra labor will produce more output. C) the real wage rate is less than the additional output the labor produces. D) the nominal wage rate exceeds the real wage rate. E) the nominal wage rate is less than the real wage rate.
Economics
For an economy as a whole, net exports must equal minus one times net capital outflow
a. True b. False Indicate whether the statement is true or false
Economics