Explain how firms that each produce as efficiently as they can may not be equally productive
What will be an ideal response?
Firm-specific characteristics may vary the level of productivity for firms even if all firms operate as efficiently as each possibly can.
Economics
You might also like to view...
One benefit of U.S. society that encouraged entrepreneurship was the inflow of capable immigrants
a. True b. False Indicate whether the statement is true or false
Economics
If a country's currency depreciates, which of the following will most likely happen?
a. Net exports will fall and aggregate demand will increase. b. Net exports will rise and aggregate demand will increase. c. Net exports will fall and aggregate demand will decrease. d. Net exports will rise and aggregate demand will decrease.
Economics