If a perfectly competitive firm is incurring a short-run loss, it
a. then will incur a long-run loss
b. will shut down
c. will continue to operate in the short run if its fixed cost is covered
d. will continue to operate in the short run if its variable cost is covered
e. will raise its price in the short run
D
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Investment banks differ from commercial banks in the fact that
A) investment banks work only with wealthy customers while commercial banks work only with private firms. B) commercial banks sell stocks on behalf of their customers while investment banks just finance loans. C) commercial banks issue stocks and bonds while investment banks do not. D) investment banks help other financial institutions and governments engage in financial markets while commercial banks work with individuals. E) commercial banks service the needs of local governments while investment banks work with the federal government.
In the knowledge economy
A) physical property rights appear to be lacking. B) property rights have become stronger. C) property rights have been replaced by network externalities. D) intellectual property rights appear to be lacking.