In the long run in a perfectly competitive market, economic profit or loss is
a. the main determinant of total cost
b. the main driving force determining consumer preferences
c. the basis of all government policy
d. the main driving force behind economic change
e. expected to persist indefinitely
D
Economics
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Suppose that the opportunity cost of a student's time is greater when he studies than when he works. What mistake is he making and why?
What will be an ideal response?
Economics
Over the last century, U.S. labor productivity has: a. fallen
b. been constant, on average. c. grown at about 2 percent per year. d. grown at about 8 percent per year. e. grown at about 15 percent per year.
Economics